1 Wall Street Firm Thinks Nvidia Stock Is Going To 150 Is It A Buy

Is Wall Street Underestimating Nvidia Stock?

One Analyst Thinks Nvidia Stock Is Going to $150

Even with the market bouncing back some this week, the high-flying stock is now down about 25% from its record closing price in mid-June.

After hitting a high of 140 in June, Nvidia (NASDAQ: NVDA) shares have pulled back amid a broader market sell-off. But one Wall Street analyst thinks the stock is still a buy, even after the recent decline.

In a recent note to clients, Loop Capital analyst Sandeep Baruah reiterated his buy rating on Nvidia and raised his price target to $150 from $140. Baruah said that he believes Nvidia is "well-positioned to benefit from the secular growth trends in AI, gaming, and data center." He also noted that the company's recent acquisition of Mellanox will give it a strong foothold in the high-performance networking market.

Other analysts are also bullish on Nvidia. In a recent note to clients, Goldman Sachs analyst Rod Hall reiterated his buy rating on the stock and raised his price target to $160 from $150. Hall said that he believes Nvidia is "a leader in the AI revolution" and that the company's "long-term growth prospects are very attractive."

Of course, there are also some analysts who are more cautious on Nvidia. In a recent note to clients, Morgan Stanley analyst Joseph Moore downgraded the stock to equal weight from overweight. Moore said that he believes Nvidia's stock is "fully valued" at current levels.

Overall, the analyst community is still bullish on Nvidia. The average price target for the stock is $148, which is about 20% above the current price. Investors who are looking for a long-term investment in the AI revolution may want to consider adding Nvidia to their portfolios.