Nvidia will Surge Another 22%, and is Still Cheap Compared to Peers Despite Nearly Doubling this Year, Goldman Sachs Says
Nvidia (NVDA) stock still has plenty of upside even after its year-to-date rally of 81%, according to a Tuesday note from Goldman Sachs.
The bank raised its Nvidia price target to $1,100 from $1,000, representing potential upside of 22% from current levels.
According to Goldman, Nvidia stock still trades at a relatively attractive valuation compared to its peers given how quickly it is growing and how durable those growth trends look in the coming years.
Those investments should power continued revenue and profit growth at Nvidia, especially with its next-generation Blackwell AI chip set to be released later this year. Nvidia will report its earnings results on May 22 after the market close.
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