Nvidia Stock Has 17% Upside, According to 1 Wall Street Analyst.
Nvidia (NASDAQ: NVDA) has become the standard bearer for the advent of artificial intelligence (AI) and the potential for significant productivity increases resulting from the widespread adoption of the technology. The company's state-of-the-art processors have essentially cornered the market for AI applications. However, Nvidia is seeing increasing competition, which is weighing on the stock in recent weeks.
One Wall Street analyst believes this represents a buying opportunity.
Morgan Stanley analyst Joseph Moore raised his price target on Nvidia to $1,000 while maintaining an overweight (buy) rating. That represents potential gains of 17% compared to Tuesday's closing price. The analyst notes that Nvidia stock is down about 10% from its peak, giving investors a compelling opportunity to buy shares.
Source Fool.com
