{"id":14126,"date":"2023-05-26T08:58:22","date_gmt":"2023-05-26T12:58:22","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/ride-the-nvidia-wave-wall-street-says-the-undeniably-pricey-stock-can-keep-roaring\/"},"modified":"2023-05-26T08:58:23","modified_gmt":"2023-05-26T12:58:23","slug":"ride-the-nvidia-wave-wall-street-says-the-undeniably-pricey-stock-can-keep-roaring","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=14126","title":{"rendered":"\u2018Ride the Nvidia wave.\u2019 Wall Street says the \u2018undeniably pricey\u2019 stock can keep roaring"},"content":{"rendered":"
\n

Even with a 160% surge in Nvidia\u2019s stock this year, analysts recommend that investors stay firmly aboard the train.<\/p>\n

Yes, Nvidia\u2019s stock
\n NVDA,
\n +24.37%<\/bg-quote>
\n now trades at more than 50 times forward earnings after its monster year-to-date rally, but estimates have come up as well in the wake of Wednesday\u2019s earnings report, which brought an eye-popping outlook fueled by heavy customer spending on artificial-intelligence products. <\/p>\n

\n

\u201cEveryone has been looking for ways to play AI that aren\u2019t as expensive as NVIDIA given the run this year,\u201d Bernstein\u2019s Stacy Rasgon wrote in a note to clients. \u201cHowever, perhaps NVDA itself is the best way to accomplish that (while still undeniably pricey it is clearly not quite as expensive as it looked) and the narrative, backed up by actual products and sales, still has legs in our opinion.\u201d<\/p>\n

Rasgon boosted his price target on the stock to $475 from $300. Nvidia shares closed at $379.80 Thursday after a 24% jump.<\/p>\n

See also: If you own these stock index funds, you\u2019re already invested in AI. But there may be better strategies.<\/strong><\/p>\n

Plenty of companies have talked about their various AI tailwinds, and plenty of stocks have gotten boosts from the theme in recent months. But Nvidia\u2019s ability to quickly show how that buzz has translated into real revenue seems to be the difference.<\/p>\n

\u201cWe believe this is just the beginning of a paradigm-altering generative AI wave and, so far, it seems that NVDA is the one capturing nearly all the economics,\u201d wrote Barclays analyst Blayne Curtis, who rated the stock at overweight with a fresh $500 target, up from $275 before. <\/p>\n

He recommended that investors \u201ccontinue to ride the NVDA wave.\u201d<\/p>\n

Read: \u2018Unprecedented\u2019 and \u2018unfathomable.\u2019 Nvidia makes jaws drop on Wall Street as stock explodes higher.<\/strong><\/p>\n

Harlan Sur of JPMorgan doubled his price target, also moving to $500, while writing of \u201csignificant upside potential in shares.\u201d<\/p>\n

Don\u2019t miss: Nvidia barrels toward rare $1 trillion valuation after putting a dollar figure on AI boost<\/strong><\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Even with a 160% surge in Nvidia\u2019s stock this year, analysts recommend that investors stay firmly aboard the train. Yes, Nvidia\u2019s stock NVDA, +24.37% now trades at more than 50 times forward earnings after its monster year-to-date rally, but estimates have come up as well in the wake of Wednesday\u2019s earnings report, which brought an […]<\/p>\n","protected":false},"author":1,"featured_media":14127,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-14126","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\n\u2018Ride the Nvidia wave.\u2019 Wall Street says the \u2018undeniably pricey\u2019 stock can keep roaring | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Even with a 160% surge in Nvidia\u2019s stock this year, analysts recommend that investors stay firmly aboard the train. 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