Nvidia (NVDA) Stocks Update: Analyst Revises Price Target with Bullish Sentiment
Nvidia (NVDA) Stocks Show Signs of Recovery
Nvidia (NASDAQ: NVDA) stocks closed at $130.39, down 1.22% with a brief dip to $127.07 before bouncing back to crucial psychological support. With pre-market trading indicating a recovery of 3.21% to $134.58, market analysts maintain a positive outlook for Nvidia.
Analyst Confidence and Market Trends
Despite challenges, analysts continue to support NVDA stocks, with Citi's Atif Malik advocating a 'Buy' rating and setting a price target of $175. Analysts foresee a $380 billion AI accelerator Total Addressable Market (TAM) by 2028. Nvidia’s position in the market appears resilient, thanks to its innovations and robust growth in AI applications.
Future Outlook for Nvidia (NVDA)
The strong momentum for Nvidia suggests a favorable investment landscape. With analysts projecting higher price targets, investors may find an opportune moment to engage with NVDA amidst positive sentiment driving the market.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.