Raymond James Raises PT on NVIDIA (NVDA) Stock

NVIDIA Corporation (NASDAQ:NVDA) is one of the Top Wide Moat Stocks to Buy for Long Term Growth. On March 19, Raymond James lifted its price objective on the company’s stock to $323 from $291, while maintaining a “Strong Buy” rating. NVIDIA Corporation (NASDAQ:NVDA)’s Chief expects that the company’s flagship AI processors can help generate $1 trillion in sales through 2027. While highlighting the management’s views, the firm stated that this outlook can be conservative.

Raymond James Raises PT on NVIDIA (NVDA) Stock

The analyst stated that, because of this new outlook, the firm lifted its estimates. Raymond James said that the thesis related to the inference as a catalyst seems to be playing out and could be marginally ahead of schedule, as highlighted by the new forecast by NVIDIA Corporation (NASDAQ:NVDA). Raymond James remains significantly optimistic about the optical exposed vendors, such as Coherent and Lumentum.

Apart from this, the firm remains optimistic about the storage vendors. These include NetApp, Everpure, and Dell, among others.

NVIDIA Corporation (NASDAQ:NVDA) is a fabless semiconductor and AI computing company that designs GPUs, AI accelerators, Application Programming Interfaces (APIs), and system-on-a-chip units.

While we acknowledge the risk and potential of NVDA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NVDA and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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