Is Nvidia Stock Going to $1,050? 1 Wall Street Analyst Thinks So.
Wall Street analysts just keep boosting stock price targets for advanced semiconductor chip supplier Nvidia (NASDAQ: NVDA). On Monday afternoon, Nvidia kicked off its 2024 GPU technology conference (GTC) with a keynote address by founder and CEO Jensen Huang.
Just ahead of the conference, analyst Frank Lee kept his buy rating on Nvidia's stock but increased his firm's price target to $1,050 from its current $882 share price. The new stock price target represents an upside of 18% from where Nvidia shares traded Monday afternoon.
Huang will use his two-hour keynote speech in San Jose, California, to give investors an idea of what's ahead for the company in the coming year. The HSBC analyst sees Nvidia's upcoming AI platform enhancements enabling it to have more control over the AI value chain and expand Nvidia's market.
Source Fool.com