Nvidia Stock Has 35% Upside, According to 1 Wall Street Analyst
There's no getting around it: Artificial intelligence (AI) has taken the tech world by storm, and Nvidia (NASDAQ: NVDA) has been leading the charge. In recent weeks, however, the stock has stalled, with some investors fearing the worst.
One Wall Street analyst believes the stock is merely gathering stream for its next leg higher.
Evercore ISI analyst Kirk Materne initiated coverage on Nvidia stock with an outperform (buy) rating while assigning a $1,160 price target on the stock. That represents a potential upside for investors of 35%, compared to Monday's closing price. The analyst stresses Nvidia isn't just a chip company but also supplies hardware and software stacks that rivals simply can't match.
Source Fool.com
