Caixin Media October 22 news (Editor Huang Junzhi) Monday, Eastern Time,$NVIDIA (NVDA.US)$The stock price rose more than 4%, reaching a new historical high, with a market cap exceeding $3.5 trillion for the first time, but this did not affect Wall Street's bullish stance on the stock.

Although Nvidia's stock has been rising almost throughout the year, Wall Street tycoons still expect the stock to have more upside potential and have been continuously raising the target stock price for this chip giant. The stock has surged by 198.34% this year. Investors are currently preparing for the next performance report to be released by the company on November 20th.

Analysts pointed out that there are signs that there is a crazy demand for the company's GPU chips supporting artificial intelligence, and they have established a long list of partnerships with "super large-scale" enterprises.

The following summarizes the recent increases in Nvidia's target stock price by Wall Street tycoons:

Bank of America, target price of $190

Bank of America's strategist raised Nvidia's target stock price from $165 per share to $190 per share last week, implying a 35% upside potential from the current level of the stock.

Analysts point out that the artificial intelligence market will experience exponential growth in the coming years. They indicate that as this chip giant continues to solidify its leading position in the market, this will bring "generation opportunities" to Nvidia.

They predict that by 2027, the artificial intelligence accelerator market will grow to $280 billion. Moreover, over time, it will further increase to over $400 billion, a significant increase from $45 billion in 2023.

Analysts state in a report that Nvidia's competitive advantage over other chip manufacturers, as well as the "generational opportunity" of the projected $400 billion artificial intelligence market growth, will drive its rise.

Bank of America highlighted positive signs of future chip demand for Nvidia in this report, including comments from other tech companies and CEO Jensen Huang. Huang called the market demand for Nvidia's upcoming Blackwell chip "crazy".

At the same time, the bank believes that Nvidia has established strong partnerships with enterprise clients like Accenture, ServiceNow, and Oracle, indicating the increasing presence of artificial intelligence in large companies. Nvidia's role as a preferred partner is also becoming more important.

"Nvidia's business spans multiple verticals (such as Accenture, ServiceNow, Microsoft), and products like AI Foundry, AI Hubs, NIMs are key levers of its leadership in artificial intelligence, not only in hardware, but also in the system/ecosystem aspect," the report stated.

Goldman Sachs, target price of $150.

Goldman Sachs analyst raised the target stock price from $135 per share to $150 per share.

Strategists say that after meeting with Huang Renxun, they have changed their target stock price. Nvidia CEO talked about the company's advantages over other chip manufacturers. Goldman Sachs said Nvidia's 'competitive moat' is built on the company's installed base, innovation, and 'strong and continuously growing' software products.

"Although we recognize that the company's revenue trajectory after 2025 is still uncertain, given the relatively low valuation multiples compared to historical levels, we expect the performance of the stock to at least match the revised estimates... And with the upcoming Blackwell product cycle driving potential fundamental reacceleration," strategists wrote.

Goldman Sachs estimates that Blackwell could also help Nvidia generate billions of dollars in revenue.

"By integrating 7 chips, each performing at higher levels at the data center level, we believe the introduction and enhancement of Blackwell is not only a driver of near and medium-term revenue growth, but also a driver of expanding Nvidia's competitive advantage. We expect the product's revenue to reach billions of dollars in January, and further growth from April onwards."

CFRA Research, target price $160

Research firm CFRA raised its target stock price from $139 per share to $160. CFRA's Senior Stock Analyst Angelo Zino said this is because people's confidence in Nvidia achieving better-than-expected growth has increased, especially with customers rushing to buy the new Blackwell chips.

"Higher PE ratios and targets reflect our greater confidence that Nvidia's performance in 2025 will exceed our expectations with the development of Blackwell. As we mentioned before, in the ai war of cloud computing, Blackwell will gain a larger wallet share from hyperscale enterprises." He added.

Bernstein, target price $155

Bernstein also raised NVIDIA's target price to $155 per share. Similar to other companies' forecasts, Bernstein's upward forecast is based on the success of the Blackwell chip.

"People are getting excited about this story again, especially as we approach winox, and then by the end of next year, their new product Blackwell really starts to grow. Look, from all indications, their own comments, all supply checks, and everything else, the demand for this product seems to exceed expectations," the company said.

Editor/ping