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Wall Street is bullish on Nvidia.
They’re pounding the table on the stock ahead of next week’s conference.
Here’s the latest…
Wedbush Securities: $1,000 Price Target
The firm rates Nvidia an “outperform.” The firm expects big announcements at next week’s event.
Price target bumped from $850 to $1,000.
Bank of America: $1,100 Price Target
Analysts are bullish on Nvidia ahead of next week’s developers conference.
They think Nvidia’s GPU Technology Conference could be a catalyst for the stock.
Price target is raised from $925 to $1,100 – implying 26% upside for the stock.
Cantor Fitzgerald: $1,200 Price Target
Analyst C.J. Muse is also bullish ahead of next week.
He thinks Nvidia’s EPS could be $35 next year. And says the stock is reasonably priced at 25-times next year’s earnings.
Price target jumps from $900 to $1,200.
Professor Jeremy Siegel says that Nvidia could go even higher…
IF Nvidia follows the path of Cisco System (NASDAQ: CSCO) during the dot com boom.
“There could be 2-3x more upside in Nvidia if it follows Cisco’s valuation path to its peak. To be clear—this is not my prediction of what will happen—just to note as to what is possible in a mega bubble,” explains Siegel.
That would put Nvidia shares around $2,700. And give the company a $6.8 trillion market cap.
That’s unlikely…
However, the point is that these AI stocks have tons of upside before this becomes like the dot com bubble.
Happy St. Patrick’s Day!
Ian
P.S. I’ve cooking up a delicious brisket and making corned beef, green cabbage and potatoes. And my dad’s brining the Guinness.
What’s your plan for St. Patty’s day?