Wall Street firm Evercore ISI raises Nvidia stock price target to $150, predicting 18% potential upside

From Nasdaq: 2024-08-26 20:14:00

Nvidia’s stock is on fire, with a 155% increase in 2024. Evercore ISI maintains a buy rating and raises the price target to $150 per share, signaling an 18% potential upside. The company is expected to benefit from strong demand from cloud customers like Microsoft and Meta Platforms.

Nvidia’s growth is promising, with GPUs playing a key role in AI applications. The company is expected to continue performing well due to high demand from hyperscalers and potential government customer purchases. The upcoming launch of Blackwell processors is also anticipated to drive sales and performance improvements.

While some doubt AI hardware demand levels, Nvidia is positioned to prove them wrong. With potential volatile swings, Nvidia stock remains a solid buy for long-term investors. The Motley Fool’s Stock Advisor team has identified Nvidia as a top performer, though not part of their top 10 stock picks for investors.

Randi Zuckerberg, former Facebook executive, sits on The Motley Fool’s board. The Motley Fool recommends Microsoft, Meta Platforms, and Nvidia, showcasing their confidence in these stocks. Stock Advisor provides investors with a proven track record, outperforming the S&P 500 since 2002, with the potential for huge returns.



Read more at Nasdaq: 1 Wall Street Firm Thinks Nvidia Stock Is Heading to $150. Is It a Buy Around 127?