On June 11, we noted, “Post-split, we don’t expect the stock to stay down for long. In fact, with the artificial intelligence boom and powerful earnings fueling momentum, NVDA could easily run right back to $1,000 in a few months.”
At the time, NVDA traded at $119. Today, it’s up to $128.78 and could see higher highs.
Analysts at Evercore ISI just raised its NVDA price target to $145. Argus also raised it price target to $150 with a buy rating. Oppenheimer raised its target to $150, with an outperform rating on the stock. Near term, we’d like to see NVDA race to $200, post-split.
Longer-term, with the artificial intelligence story creating bigger demand for AI chips, we’d like to see NVDA race back to $1,200.
