After a sharp 27% decline over the past three weeks, Nvidia (NVDA) shares are showing signs of recovery, with Wall Street analysts emphasizing the stock’s attractive valuation.
On Tuesday, Nvidia stock briefly hit a six-month low of 104.77 before rebounding to close at 108.76, marking a 1.7% gain. The momentum continued on Wednesday, with shares surging 6.4% to finish at 115.74.
Analysts Remain Bullish on Nvidia
BofA Securities reiterated its buy rating and maintained a $200 price target, citing Nvidia’s compelling valuation ahead of its highly anticipated GPU Technology Conference (GTC) next week. The firm expects Nvidia to showcase advancements in its Blackwell Ultra and Rubin processors, along with innovations in next-generation networking, autonomous vehicles, robotics, and quantum computing.
Wedbush Securities analyst Daniel Ives reinforced a long-term bullish outlook, acknowledging recent struggles but emphasizing Nvidia’s role in the AI megatrend. “Our bullish stance on Nvidia and other major tech names isn’t about short-term fluctuations but rather a one-, three-, and five-year outlook,” Ives noted.
GTC Conference: A Potential Catalyst
Investors are looking ahead to Nvidia’s GTC conference, which analysts believe could be a major catalyst for the stock. Ives suggested the event might reignite enthusiasm for AI stocks, shifting market focus toward long-term growth and massive tech spending.
Meanwhile, Wells Fargo Securities analyst Aaron Rakers maintained his overweight (buy) rating on Nvidia with a $185 price target. He pointed out that recent market turbulence, partly driven by Trump administration policies, has created an attractive buying opportunity for investors.
With the upcoming GTC conference set to unveil key advancements, Nvidia’s rebound may signal renewed confidence in the company’s role as a leader in artificial intelligence.
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