Nvidia (NVDA) Stock Price Target Updated: Analysts Predict Further Growth
Nvidia Stock Price Performance and Analyst Forecasts
Despite recent fluctuations, Nvidia (NASDAQ: NVDA) has regained upward momentum, evidenced by a 17.05% rally in the past 30 days. Currently priced at $136.83, NVDA is nearing its all-time high, boasting a remarkable 183.92% year-to-date increase.
Goldman Sachs and Citi Raise Price Targets
Goldman Sachs has increased its NVDA price target from $135 to $150, citing robust demand for Blackwell chips linked to the AI boom. Similarly, Citi predicts a 118% surge in demand for Nvidia GPUs in 2024, supporting its buy rating.
Ongoing Positive Sentiment from Morgan Stanley
In line with its peers, Morgan Stanley also maintains a buy rating for Nvidia, echoing the optimistic sentiment surrounding its strong product cycle. Analysts agree on the promising outlook for the tech giant as it navigates the expanding AI market.
Summary of Analyst Recommendations
- Goldman Sachs: Target $150
- Citi: Target $150, expecting 2024 GPU demand to rise 118%
- Morgan Stanley: Maintains a buy rating, $150 target
- Overall bullish sentiment in the market.
For more detailed insights, follow up on the market trends and Nvidia's performance.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.