Nvidia 's blowout rally is far from over as analysts continue to amp up their bets on the AI darling ahead of its highly anticipated GTC Conference. The event, kicking off Monday and nicknamed "AI Woodstock" by Bank of America , will be closely monitored by Wall Street analysts and investors on the hunt for insight into the chip giant's long-term AI vision.
and Truist joining the flood on Monday. mountain Nvidia share performance over the last year According to FactSet, the current consensus price target on Nvidia implies about 4% upside, with 90% of analysts holding a buy or overweight rating. That's on top of a 77% year-to-date gain and 241% year-over-year rally as AI enthusiasm shows no signs of waning.
's Frank Lee also upped the ante on Nvidia and hiked his price target to $1,050 from $880 a share, implying about 20% upside from Friday's close. He views the company's long-awaited B100 graphics processing unit, or Blackwell chip, and its GB200 AI platform as critical to the company's growing total addressable market and expanded pricing power.
and Truist may be the latest Wall Street shops to up estimates heading into the GTC Conference, but they are far from the first. Bank of America's Vivek Arya boosted his target to $1,100 last week, citing a strong product pipeline and "still compelling valuation" as Nvidia's total addressable market broadens. Cantor Fitzgerald's C.J. Muse adjusted his objective to $1,200.