Citi's Atif Malik upgraded Nvidia's price target to $520, or $600 in a bull scenario – representing a 12% and 29% increase, respectively, from its current share price of $465 (as of market close today).
Even amid risks such as China's ban and increased competition, he believes Nvidia holds a substantial advantage in the AI space due to its over 90% market share in AI acceleration, a market expected to be worth around $150 billion by 2027.
https://www.cnbc.com/2023/07/17/dont-expect-nvidias-rally-to-lose-steam-citi-says.html
Overall, seems like Wall St. can't decide whether Nvidia is overvalued or not. I haven't seen this much contention since Tesla in 2021.
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