Is Nvidia Stock Going to $150 in the Wake of Its High-Profile 10-for-1 Stock Split? 1 Wall Street Analyst Thinks So
The paradigm shift represented by artificial intelligence (AI) is having a pronounced effect on the tech landscape, and nowhere is that more apparent than Nvidia (NASDAQ: NVDA). The company provides the chips with the computational horsepower to power AI, driving its financial results and stock price into the stratosphere. Nvidia stock is up more than 200% over the past year, resulting in a 10-for-1 stock split, which was completed just last month.
Despite the stock's impressive run, Wall Street is reviewing its pricing models, and one analyst believes Nvidia still has plenty of upside ahead.
UBS analyst Timothy Arcuri reiterated his buy rating on Nvidia stock and increased his price to $150. That represents potential upside for investors of 19%, compared to the stock's closing price on Friday. The analyst believes that Nvidia's recent focus on rack-scale servers is underappreciated and could spark additional gains for the chipmaker.
Source Fool.com
