Bank of America hikes Nvidia price target, says shares can rally almost 40%

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Bank of America hikes Nvidia price target, says shares can rally almost 40%

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), and offerings such as AI Foundry, AI Hubs, NIMs are key levers to its AI leadership, not only on the hardware side but also on systems/ecosystems side.” The analyst also thinks that Nvidia’s valuation is still “compelling.” The stock currently has a forward price-to-earnings ratio of around 48.1, according to FactSet. Looking ahead, Arya said the company could see at least $200 billion in free cash flow generation over the next two years, which would rival that of Apple and give it growth optionality. With this, he believes Nvidia’s FCF generation is also “underappreciated” by the market, noting that it’s at a margin that’s virtually around double that of the “Magnificent Seven” average. The stock advanced around 1% in the premarket on Friday following Arya’s price target change.

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