"HSBC also raised the price target on the stock to a Street-high of $320, up from $200. The new target implies upside of nearly 80% from Nvidia's last close of $180.03. Hitting that target would translate to a market capitalization close to $8 trillion, compared with about $4.37 trillion currently. We expect AI GPU TAM to keep increasing beyond hyperscalers, leading to continuous earnings growth, analyst Frank Lee wrote, referring to the total addressable market for the processing chips."
"With the upgrade, more than 90% of the analysts tracked by Bloomberg recommend buying the stock. Fewer than 8% have the equivalent of hold ratings, while just one analyst recommends selling. The average price target on Nvidia shares is about $220, suggesting a return potential of more than 20% based on its Tuesday close. HSBC also affirmed a buy rating on Advanced Micro Devices Inc. and boosted its price target on the stock from $185 to $310, another Street high."
HSBC upgraded Nvidia to buy and raised its price target to $320 from $200, implying nearly 80% upside and a market capitalization close to $8 trillion versus about $4.37 trillion currently. HSBC expects the AI GPU total addressable market to expand beyond hyperscalers, driving continuous earnings growth and creating room for significant FY27 earnings upside. Nvidia shares rose 2% and have climbed over 30% this year. More than 90% of analysts tracked by Bloomberg recommend buying the stock, with an average price target near $220. HSBC also affirmed a buy on AMD and raised its target to $310, citing improved visibility from an OpenAI deal.
Read at www.mercurynews.com
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