Top Wall Street analysts are upgrading Nvidia (NVDA) stock as the share price trades at an all-time high of $135 on a split adjusted basis.
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Toshiya Hari, a well-respected analyst at investment bank Goldman Sachs (GS), has lifted his price target on Nvidia stock to $150 from $135 and reiterated a Buy rating on the stock. In a note to clients, Hari said that after recently meeting with Nvidia CEO Jensen Huang, he has a newfound appreciation of the chipmaker’s competitive moat.
Fellow Wall Street investment bank Morgan Stanley (MS) also met with Huang and senior executives at Nvidia recently, and were similarly impressed with what they heard. Morgan Stanley analyst Joseph Moore reiterated Nvidia as a “top pick,” with a Buy rating and a price target of $150 per share.
In his note to clients, Moore wrote, “Our view continues to be that NVIDIA is likely to actually gain share of AI processors in 2025… Everything that we heard this week reinforced that (view).”
High Expectations for New Nvidia Chip
Nvidia CEO Huang met with top Wall Street analysts ahead of the company’s newest Blackwell line of microchips hitting the market. These are Nvidia’s most powerful artificial intelligence (AI) processors yet, and expectations for them are sky-high. Morgan Stanley’s Moore said that he expects Nvidia, “…will have several billion in Blackwell revenue in the January quarter.”
The high expectations and positive analyst notes have sparked a rally in NVDA stock. Since Sept. 6, the company’s share price has risen 32%, including a 6% gain in the past week. At $135.10 per share, Nvidia’s stock is now trading right around its all-time high. The company split its stock on a 10-for-1 basis in June of this year.
Is NVDA Stock a Buy?
Nvidia stock has a consensus Strong Buy rating among 42 Wall Street analysts. That rating is based on 39 Buy and three Hold recommendations made in the last three months. There are no Sell ratings on the stock. The average NVDA price target of $152.44 implies 12.73% upside from where the shares currently trade.
