Economy
BNP Paribas Upgrades Nvidia Stock Target to $345 Amid AI Platform Growth
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THE BRIEF
1
BNP Paribas retained its Outperform rating on Nvidia and raised its target price from $285 to $345, pointing to a potential 47% upside from the previous closing price.
2
The brokerage projects that Nvidia's full-stack platform, CUDA software, and upcoming Vera Rubin architecture will enable the company to maintain over 70% of the AI compute market and gross margins above 70%.
3
The upgrade follows Nvidia's announcement last week increasing its stock buyback program by $150 billion through fiscal year 2028, marking the largest increase in a stock repurchase program.