1 Wall Street Analyst Thinks Nvidia Stock Is Going to $150. Is It a Buy After the Artificial Intelligence (AI) Leader's Tumble from Record Highs?
Last week, investors started rotating out of hot chip stocks like Nvidia (NASDAQ: NVDA). That led to the stock's first losing week in about two months. But one Wall Street analyst is looking beyond the sector rotation and believes investors should still be buying shares of the artificial intelligence (AI) chip leader.
Jefferies analyst Blayne Curtis doesn't think the powerful AI rally has come to an end. In a report released Sunday, he maintained a "buy" rating and raised his price target on Nvidia from $135 to $150 per share. That represents a 25% gain from recent levels. It comes after Nvidia stock has pulled back from its recent record high, dropping more than 12% in just the last week.
While many stocks in the chip sector have recently pulled back, Curtis still thinks Nvidia is the undisputed leader among AI-related companies. The analyst summed up his thoughts this way:
Source Fool.com
