Gate News reports that on March 19, American investment bank Raymond James significantly raised the target price for NVIDIA stock to $323, a 80% increase from the current level. Analyst Simon Leopold stated that NVIDIA’s management’s guidance to reach $1 trillion in revenue by 2028 is conservative, with total sales expected to reach $1.2 trillion. This upgrade came after the GPU Technology Conference, where NVIDIA management emphasized strong demand for their GPUs. Other analysts have also raised their target prices, with the current consensus target price at $275. NVIDIA’s revenue this quarter is expected to grow 78% year-over-year to $78.5 billion, with earnings per share projected to increase 119% year-over-year. Despite strong growth, NVIDIA’s forward P/E ratio is 21.38, below the S&P 500 index’s 23 times. Major companies like SpaceX and Meta Platforms continue to make large investments in NVIDIA, further supporting its growth prospects.
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