1 Wall Street Analyst Thinks Nvidia Stock Is Going to $985. Is It a Buy Around $777?
In an Nvidia (NASDAQ: NVDA) research note published on Wednesday, Tigress Financial analyst Ivan Feinseth maintained the firm's "buy" rating on the market-leading artificial intelligence (AI) company. More strikingly, he increased his one-year price target on the stock from $790 per share to $985.
In his coverage, Feinseth stated that Nvidia looks poised to retain dominance in advanced graphics processing units (GPUs) and accelerated processing technologies that are powering data centers and the AI revolution. In addition to powerful demand tailwinds in the data center segment, Tigress Financial also expects that Nvidia's gaming business will see strong growth as users continue to value higher levels of visual fidelity.
With Nvidia currently trading at roughly $777 per share, should investors follow Feinseth's recommendation and buy the red-hot AI stock?
Source Fool.com
