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Nvidia's stock soars to a record after Evercore ISI sets price target

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.

READ MORE (MarketWatch)

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Nvidia's stock soars to a record after Evercore ISI sets price target


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