Wall Street Analysts Set Sky-High Price Targets for Nvidia
Analysts' Optimism Driven by Stellar Performance, Strong Buy Consensus
Analysts are overwhelmingly bullish on Nvidia's stock, with 39 out of 41 analysts recommending a Buy rating.
Based on these 12-month price forecasts, the average price target for Nvidia is an impressive $119.764, with a high estimate of $189.75. The average short-term price target of $118.186 further reinforces the analysts' positive outlook. This strong analyst consensus is driven by Nvidia's exceptional performance in 2023. The company has benefited from a surge in demand for its chips used in gaming, artificial intelligence, and data centers. Goldman Sachs analyst Toshiya Hari recently raised his price target for Nvidia, reiterating his Buy rating. Hari cited the company's dominance in the chip market and its potential to drive growth in the data center segment. Analysts at Oppenheimer and Evercore ISI have also increased their price targets for Nvidia, citing the company's strong financial results and its leadership position in the industry. The overall sentiment on Wall Street is that Nvidia is a Strong Buy, with analysts confident that the stock will continue to climb in the coming months. The average price target of $112.80 implies nearly a 13% upside potential from the current stock price.
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