Nvidia Stock Gets A Price Target Hike From Barclays – Check Out The New Level
Synopsis
Barclays based its new valuation on Nvidia’s earnings potential, forecasting an implied earnings per share of $7.85, adding $35 billion in potential revenue stemming from the chipmaker’s recent collaboration with OpenAI.
Nvidia Corp. (NVDA) stock received a bullish update from Barclays as analyst Tom O'Malley lifted the firm’s price target to $240 from $200, reiterating an ‘Overweight’ rating on the stock.
The new target reflects rising confidence in the company’s dominant position in artificial intelligence infrastructure, as well as a growing list of strategic partnerships.
Barclays based its new valuation on Nvidia’s earnings potential, forecasting an implied earnings per share of $7.85. The firm added $35 billion in potential revenue stemming from Nvidia's recent collaboration with OpenAI to its model. According to a CNBC report, at a 30x multiple, the firm expects Nvidia’s valuation to climb sharply as AI adoption deepens across various industries.
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