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Nvidia's Stock Could Hit $1,200, This Bull Says. Here's the Key to That Rally
Evercore ISI's C.J. Muse sees ample upside for Nvidia shares 'once investors gain conviction 2025 is not a peak year'. Nvidia Corp. shares suffered their worst day in nine months Friday, but Cantor Fitzgerald analyst C.J. Muse is feeling as upbeat as ever.He boosted his price target on Nvidia's stock to $1,200 from $900 over the weekend, writing that the company's annual GTC conference, which kicks off next week, could shine a light on growth opportunities, including for some of Nvidia's more under-the-radar businesses.Muse's new target is among the highest listed on FactSet and implies 37% upside from current levels.Nvidia's software business has achieved a $1 billion annual run rate, but that's still a drop in the bucket for a company that hauled in upwards of $60 billion in overall revenue last fiscal year and that's expected to easily cross the $100 billion total-revenue mark this fiscal year.See also: AMD's AI story is 'unfolding fast.' This bull sees a 25%-plus stock gain ahead.
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