Nvidia stock received price-target increases Monday from several Wall Street analysts who gushed about the chipmaker's opportunity in artificial intelligence.
Melius Research analyst Ben Reitzes reiterated his buy rating on Nvidia stock and raised his price target to 185 from 165.
On the stock market today, Nvidia stock slid 1.6% to close at 145.26. It reached an all-time high of 149.77 on Friday.
Reitzes called Nvidia stock a "once-in-a-lifetime opportunity," thanks to its exposure to the AI megatrend. And that trend is still in its early days as Nvidia ramps production of its next-generation AI chip, called Blackwell, Reitzes said in a client note.
"Giving up on Nvidia here after its hit — Hopper — is like giving up on Apple at iPhone 1 or 2," Reitzes said. "AI is still on the come with compute-intensive catalysts/use cases like text-to-video, autonomous agents, self-driving cars and visual intelligence in their infancy."
Capital expenditure plans are "very solid" at the five biggest AI infrastructure spenders: Microsoft, Amazon, Meta Platforms, Alphabet's Google and Oracle, he said.
Reitzes forecasts data center capex at those companies to rise 24% in 2025 to $282 billion.
Nvidia Named 'Top Large-Cap Pick'
Elsewhere, Piper Sandler analyst Harsh Kumar kept his overweight rating on Nvidia stock and upped his price target to 175 from 140.
"We are making Nvidia our top large-cap pick given the company's dominant positioning in AI accelerators and the upcoming launch of the Blackwell architecture," Kumar said in a client note.
He called Nvidia stock "a must-own" stock ahead of the Blackwell ramp.
Kumar said the total addressable market for AI accelerators will continue to rise in 2025 and Nvidia is "well positioned" to capture a lion's share of the market.
Nvidia Stock Is On Five IBD Stock Lists
Also Monday, Nvidia stock scored price target hikes from Mizuho Securities, Morgan Stanley and UBS.
Morgan Stanley analyst Joseph Moore maintained his overweight rating on Nvidia stock and increased his price target to 160 from 150.
"The current environment is completely supply constrained on Blackwell, and also partly on H200," Moore said in a client note.
Mizuho analyst Vijay Rakesh reiterated his outperform rating on Nvidia stock and upped his price target to 165 from 140.
UBS analyst Timothy Arcuri raised his price target on Nvidia stock to 185 from 150 and kept his buy rating.
"Amid investor expectations that moved up in recent weeks, we remain bullish here and see Nvidia delivering strong-enough results and guidance to keep the stock moving higher," he said in a client note Monday.
The next potential catalyst for Nvidia stock will be the company's fiscal third-quarter report on Nov. 20.
Nvidia stock is on five IBD lists: Leaderboard, SwingTrader, IBD 50, Sector Leaders and Tech Leaders.
On Oct. 17, Nvidia stock hit a buy point of 140.76 out of a 17-week consolidation pattern, according to IBD MarketSurge charts. The 5% buy zone extends to 147.80, based on IBD trading principles.
Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
