Nvidia Stock Price: 18% Rally Coming, Says Former Bear Who Called for a Crash
It seems that Nvidia’s success is too great for one of Wall Street’s biggest bears to ignore.
In an update to clients, DA Davidson raised its rating on Nvidia stock from “neutral” to “buy” and raised its price target from $195 to $210 a share.
That implies around 18% upside from current levels. It also reflects a sharp change in sentiment from what the firm has previously said about the stock, with analysts predicting as much as a 48% drop in March.
“Our increasingly optimistic view of the growth in AI compute demand supersedes our list of concerns regarding NVDA,” analysts led by Gil Luria, the firm’s head of technology research, wrote.
