Mizuho Maintains Outperform Rating on NVIDIA (NVDA), Lifts PT to $205 From $192

NVIDIA Corporation (NASDAQ:NVDA) is one of the most buzzing stocks to invest in right now. In a report released on August 15, Mizuho analyst Vijay Rakesh maintained an Outperform rating on NVIDIA Corporation (NASDAQ:NVDA), raising the price target on the stock to $205 from $192 and highlighting solid momentum in AI server demand and hyperscaler spending.

Analyst Explains How NVIDIA (NVDA) Can Reach $8 Trillion Market Cap

A close-up of a colorful high-end graphics card being plugged in to a gaming computer.

The analyst added that in this backdrop, NVIDIA Corporation (NASDAQ:NVDA) is seeing solid revenue growth from Taiwan-based server makers, such as Wistron and Wiwynn.

Rakesh also considers the upcoming GB200 and GB300 GPU launches to be growth drivers for the company.

NVIDIA Corporation (NASDAQ:NVDA) designs and manufactures computer graphics processors, chipsets, and other multimedia software. It operates in the Compute & Networking and Graphics Processing Unit (GPU) segments.

While we acknowledge the potential of NVDA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NVDA and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.