1 Wall Street Analyst Boosts Nvidia Price Target by 47%: Here's Why They're Right
Nvidia Corporation (NASDAQ: NVDA) -- the undisputed king of AI semiconductor chips -- is priced at $727 per share. Blink and you might miss it. On Tuesday, investment bank UBS predicted that Nvidia's price will reach $850, giving investors a 17% profit before the end of 2024.
No, it's not.
Even at $1.8 trillion in market capitalization, Nvidia could still gain even more. The stock looks pricey at 95 times trailing earnings, but most analysts agree that Nvidia is growing so fast that its forward P/E ratio stops at 35 times earnings. And with a projected long-term earnings growth rate of 35%, that actually sounds like a pretty fair price.
Source Fool.com
