Nvidia (NVDA) managed to rise almost 2 percent on Wednesday, despite new unrest around China and possible chip competition from Meta. The price jump came after several analysts increased their price targets and confirmed confidence in the chip giant.
On Tuesday it emerged that Meta is considering switching to Google’s own Tensor Processing Units (TPUs) from 2027, potentially making it less dependent on Nvidia. A new obstacle followed on Wednesday: Chinese regulators reportedly banned TikTok parent company ByteDance from using Nvidia chips in its data centers.
Yet the share remained remarkably strong. Nvidia closed more than 1.8 percent higher at $ 180.90. The message from the market is clear: despite the headwinds, Nvidia remains the undisputed leader in artificial intelligence.
Wedbush: “Nvidia is de Rocky Balboa van AI”
Dan Ives of investment bank Wedbush was the first to express his confidence. According to him, Nvidia remains the foundation of the AI revolution. He calls CEO Jensen Huang “the godfather of AI”.
Although Google and Broadcom are gaining ground with their own chip solutions, Ives emphasizes that Nvidia plays the central role: “The AI boom starts and ends with Nvidia.” On X he described the company as “the Rocky Balboa of the AI revolution”.
Wedbush therefore maintains its price target of $230, with an ‘Outperform’ recommendation.
Several banks are raising price targets
Other major parties also remain positive. Bernstein and Phillip Securities both issued a ‘Buy’ rating on Monday. Phillip increased his price target from $185 to $200.
A day later, Citi and Bank of America also issued repeated purchase recommendations. Their price targets remained unchanged: $270 and $275.
Analysts see an average of 43 percent upside potential
According to data from TipRanks, the average price target for Nvidia is now $257.26. That is more than 43 percent higher than the current stock price.
Even the most cautious analysts – who see the share ending around $200 – still expect price gains. On Wall Street, Nvidia now receives 39 ‘Buys’, compared to only one ‘Hold’ and one ‘Sell’. The market speaks clearly: this share remains a ‘Strong Buy’.
Source: https://newsbit.nl/analisten-publiceren-nieuw-koersdoel-voor-nvidia-aandeel/
