Bank of America Merrill Lynch raises NVIDIA's target stock price: Can rise another 38%

Bank of America analysts have raised the target price of NVIDIA's stock from $165 to $190, indicating a 38% upside potential from last Friday's closing price of $138. Analysts pointed out that the artificial intelligence market is expected to grow exponentially in the coming years, with the AI accelerator market projected to reach $280 billion by 2027 and potentially further increase to over $400 billion. With developers such as OpenAI, Google, and Meta continuing to release large language models, the demand for computing power will continue to rise