TD Cowen Remains Bullish on NVIDIA Corporation (NVDA)

NVIDIA Corporation (NASDAQ:NVDA) is one of the best semiconductor stocks with the highest upside potential right now. TD Cowen lifted the price target on NVIDIA Corporation (NASDAQ:NVDA) to $275 from $235 on May 15, reiterating a Buy rating on the shares.

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

The rating update came as part of an off-cycle compute semiconductor earnings preview, with the firm telling investors in a research note that AI capex dollars are continually moving higher as investors seek the next “bottleneck” to infrastructure builds. It further stated that these circumstances have driven a “bifurcation within the infrastructure trade” as the largest accelerator companies underperform while optical names trade higher on expectations of coming shortages. The firm raised estimates citing ongoing momentum, adding that it now sees $1.3 trillion in data center silicon spending by 2030, up from the previous $1.2 trillion.

In a separate development, Cantor Fitzgerald lifted the price target on NVIDIA Corporation (NASDAQ:NVDA) to $350 from $300 on May 14, reiterating an Overweight rating on the shares.

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 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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