Is Nvidia Stock Going to $144? 1 Wall Street Analyst Thinks So.

Nvidia (NASDAQ: NVDA) share prices have recently reversed course after seemingly pushing higher for months with out a breather. The stock now trades nearly 13% off its intraday high price of over $140 per share hit last month.

There may be one Wall Street analyst who thinks shares of the synthetic intelligence (AI) leader will soon rebound and even exceed its all-time high. Morgan Stanley analyst Joseph Moore put out a recent note on Nvidia on Monday increasing his price goal from $116 to $144 per share. Moore determined that share price based on what he sees as a jump in earnings per share (EPS) through next yr. Moore thinks Nvidia stock is price buying as his recent price goal would represent a gain of about 17.5% from its current price.

Nvidia’s “compelling narrative”

After data checks pointed to strong demand in China and Taiwan, in addition to the U.S., Moore raised his EPS estimate for the semiconductor giant from $2.94 to $3.34 per share for next yr. Moore believes Nvidia, “stays essentially the most compelling narrative within the AI [semiconductor] space, and as we transition from H100 to H200 after which Blackwell, visibility and backlog will improve materially.”

That last point is the important thing to an investment in Nvidia straight away. Even after its recent correction, Nvidia shares had run up ahead of revenue and earnings growth. In other words, further growth is already built into the stock price to some extent.

But whilst Nvidia prepares to start bulk shipments of its recent, Blackwell AI platform, its H100 and H200 graphics processing units (GPUs) are still in high demand. That is because lots of Nvidia’s customers have been waiting in line to get these high-strength computing chips needed for training generative AI models.

Those sales will remain strong whilst shipments of the brand new Blackwell chip speed up. That is why investors should still feel comfortable buying Nvidia shares. Even after the huge gains, there’s a robust base of sales, and an excellent stronger pipeline of latest AI products ahead.

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Howard Smith has positions in Nvidia. The Motley Idiot has positions in and recommends Nvidia. The Motley Idiot has a disclosure policy.

Is Nvidia Stock Going to $144? 1 Wall Street Analyst Thinks So. was originally published by The Motley Idiot

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