Chipmaker Nvidia (NVDA) received an upgrade from Tigress Financial on Tuesday. The upgrade came after Nvidia’s stock experienced a significant drop due to concerns related to a Chinese artificial intelligence company called DeepSeek. This drop resulted in a massive loss in market cap of nearly $600 billion. Despite the recent drop, shares of NVDA are up at the time of writing.
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Tigress Financial remains confident in Nvidia’s potential to continue growing. As a result, the firm changed its investment rating from Buy to Strong Buy and increased its 12-month price target to $220. Tigress Financial cited several reasons for the upgrade, which included Nvidia’s position as a leader in the artificial intelligence industry.
The firm also pointed to the company’s advancements in GPU development, expansion into healthcare, and its strong balance sheet as positives. Additionally, recent announcements, such as Project Stargate and Jensen Huang’s keynote at the Consumer Electronic Show, contributed to the upgrade.
Is NVDA a Good Stock to Buy?
Turning to Wall Street, analysts remain bullish on NVDA stock, with a Strong Buy consensus rating based on 36 Buys and three Holds assigned in the past three months. After a 95% rally in its share price over the past year, the average NVDA price target of $177.56 per share implies an upside potential of 46.5% from current levels.
