New Street Research analyst Pierre Ferragu has added Nvidia (NASDAQ: NVDA) to the company’s ‘best idea list for 2026’ on Thursday, March 19, arguing the stock could double in value by 2027.

The analyst likewise added that enthusiasm around the chipmaker’s $1 trillion guidance for Blackwell and Rubin products ought to be higher, as he believes the figure is in the bag by the end of 2027. 

Moreover, he argues that a combination of earnings revision and a low multiple is going to aid the semiconductor leader in its recently announced buyback strategy, which will see 50% of the company’s free cash flow dedicated to stock buybacks or dividends.  

“It all sounds like Nvidia could be a double bagger on the combination of earnings revision and the low multiple, opening the door to very efficient buybacks,” Ferragu wrote.

Ferragu also added that Nvidia could generate more than $20 of earnings per share (EPS) and accordingly rates the stock a ‘Buy’ and projects a price target of $275 for the next twelve months. The prediction implies a nearly 55% upside from the current price of around $178.

Wall Street remains bullish on Nvidia stock

Ferragu’s analysis follows no less than eleven other notes that came in between March 18 and March 19. Positive ratings and renewed confidence are mostly attributed to the ongoing annual GTC developer conference, during which Nvidia has unveiled some rather ambitious plans.

Among the most optimistic analysts was Rosenblatt’s Kevin Cassidy, who confirmed that the chipmaker is still a ‘Buy’ and raised his 12-month NVDA shares price target from $300 to $325.

Simon Leopold at Raymond James has also raised its price target on Nvidia from $291 to $323 while maintaining a ‘Strong Buy’ rating. The firm also cited the updated outlook for $1 trillion of cumulative GPU sales through 2027.

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