Shares of Nvidia Corp. shot up to a record early in Friday trade after Evercore ISI suggested prices could soar by more than 40% from current levels because investors appear to “severely” undervalue the potential market for artificial intelligence.
Muse said he believes Nvidia is building the industry standard for artificial-intelligence (AI) systems, supported by first-mover advantage, what will be nearly impossible to replicate.
The Evercore analyst has been bullish on Nvidia’s stock since Dec. 14, 2016, but now sees further upside after hosting Nvidia management, including Chief Executive Jen-Hsun Huang and Chief Financial Officer Colette Kress, on the road with investors over the last few days in New York and Boston.
Muse believes Nivida is on a “clear path” to earnings of $10 a share over the next three-to-five years, which supports his Wall Street-high target of $250.
- Everyone 'severely underestimates the impact of AI' - here's why Nvidia could ...Markets Insider
- Red-hot Nvidia gets its most bullish Wall Street call yet due to AICNBC
- Nvidia Is 'Building The Industry Standard' For AI; Analyst Lifts Price Target ...Benzinga
- Trade of the Day: Nvidia Corporation (NVDA) Stock Toys With a BreakoutInvestorplace.com
- Nvidia's Data Center Business Might Be Bigger Than ReportedInvestor's Business Daily
- 5 Biggest Price Target Changes For FridayBenzinga
- Nvidia Corp (NVDA) Stock Price Rose While Mastrapasqua Asset Management INC ...BZ Weekly
- NVIDIA (NVDA) PT Raised to 'Street High' $250 at Evercore ISIStreetInsider.com
- Orinda Asset Management Has Cut Its Stake in City Office Reit (CIO) as Stock ...BZ Weekly