Nvidia (NASDAQ: NVDA) remains one of Wall Street’s favorite AI trades, and a fresh analyst update suggests at least one firm believes the rally still has room to run.
Despite ongoing concerns over economic conditions, debt markets, and supply-chain constraints, Cantor Fitzgerald reiterated its bullish stance on the chipmaker, arguing that demand tied to artificial intelligence infrastructure remains firmly intact.
The investment firm reaffirmed its Overweight rating on Nvidia and maintained a $350 price target. Based on the stock’s press-time price of $277, the target implies upside of nearly 27%.
In support of its outlook, Cantor Fitzgerald analyst C.J. Muse pointed to continued strength in AI infrastructure spending and Nvidia’s valuation relative to other compute-focused companies.
The latest analyst note comes as investors continue to debate the sustainability of the AI infrastructure boom that has fueled Nvidia’s rapid growth in recent years.
Cantor Fitzgerald believes AI-related spending remains a durable trend despite macroeconomic headwinds and supply constraints.
The firm also described Nvidia’s memory strategy as an economic decision aimed at optimizing margins and GPU sales rather than signaling weakening demand.
Notably, Muse has been among Nvidia’s most vocal supporters. Earlier this year, he raised his price target to $350, arguing that the market was undervaluing Nvidia’s role in the broader AI ecosystem, including its growing position as a provider of full AI systems rather than just processors.
Wall Street bullish on NVDA stock
At the same time, Cantor Fitzgerald’s target remains above the broader analyst consensus but falls within the range of Wall Street forecasts.
According to data from TipRanks, 29 analysts currently covering Nvidia assign the stock a ‘Strong Buy’ consensus rating.
The average 12-month price target stands at $325.23, while the highest target is $465 and the lowest is $275. All 29 analysts rate the stock a ‘Buy’, with no ‘Hold’ or ‘Sell’ recommendations.
The bullish call follows another strong earnings report from Nvidia. The company reported quarterly revenue of more than $96 billion, up over 100% year over year, while issuing guidance that exceeded Wall Street expectations.
Management forecast third-quarter revenue of approximately $108 billion, underscoring continued demand for AI infrastructure.
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