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Analysts update Nvidia stock price target

Analysts update Nvidia stock price target
Elmaz Sabovic

Recognized by Wall Street as the leader of the artificial intelligence (AI) revolution and one of the best performers on the stock market, Nvidia (NASDAQ: NVDA) stock is a source of never-ending debate by analysts.

Some argue that its bullish run is close to peaking and is all downhill from here, while others see further upside potential in this semiconductor stock.

Recent antitrust charges in France worry over meeting demand give voice to bearish analysts. However, the sentiment is still predominantly bullish, evidenced by almost daily updates to the NVDA stock price target.

The most recent NVDA stock price targets are cautiously bullish

Nvidia stock started July on a positive note, as it recorded a modest 0.62% gain in the latest trading session and two new price targets from Morgan Stanley and Bernstein analysts.

On the first day of July, Morgan Stanley raised its price target on Nvidia stock to $144, citing strong demand for its current data-center processors, notably the Hopper series, based on sales channel checks in Taiwan and China. 

Analyst Joseph Moore increased his earnings estimates but expressed caution about the upcoming transition to Nvidia’s next-generation Blackwell series due to its complexity.

Despite maintaining a “buy” rating, Moore noted the stock’s significant appreciation since the last earnings report and the challenges ahead. Nvidia remains a compelling player in the AI semiconductor space, with anticipated improvements in visibility and backlog as it moves from H100 to H200 and then Blackwell.

Similarly, on the same date, Bernstein analyst Stacy Rasgon shared his update on the semiconductor producer. He shared his colleagues’ cautious optimism and reaffirmed a more conservative price target of $130 for NVDA stock.

The overall sentiment on Wall Street regarding NVDA stock is overwhelmingly bullish

Despite a recent cautious approach by their colleagues, other analysts at Wall Street see more room for growth for Nvidia stock, as they assign a “strong buy” rating. This comes from 41 analysts, of which 38 assigned a “buy” rating, three opted for “hold,” and none went for “sell” recommendation.

The average price target is $135.81, representing a modest 9.26% upside from the current price levels.

Analysts' price target for NVDA stock. Source: TipRanks
Analysts’ price target for NVDA stock. Source: TipRanks

Even with the prevailing optimism, the current average price target doesn’t represent much of an upside, especially compared to the year-to-date gains of 158%, which might be a warning sign for investors.

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