Nvidia (NVDA): Bullish Momentum with Strong Upside Potential
Technical Outlook & Analyst Targets:
Nvidia's stock recently formed a bullish engulfing pattern, with the price moving above its 50-week moving average—indicating sustained upward momentum and room to grow further. Analysts see a potential upside target of $300 by late December if this trend continues
Analyst Price Target Updates:
Loop Capital’s Ananda Baruah projects a price target of $250, driven by surging demand for AI infrastructure and expanding market for high-performance chips
Bank of America raised its target to $200, citing Nvidia’s leading position in AI and attractive valuation metrics (forward P/E of ~22–29x)
Bernstein also lifted its target to $185, highlighting robust data center revenues and full-scale rollout of Blackwell GPUs
Morgan Stanley reaffirmed Nvidia as a "Top Pick" with a $166 target, emphasizing strong Blackwell GPU demand and a potential 44% revenue rise in 2025
Risks to Watch:
Some caution exists around rising geopolitical risks (tariffs, export restrictions) and increased competition in the AI chip space