One Wall Street analyst sees 26% upside for INVISTA stock

Over the past year or so, the rise of Artificial Intelligence (AI) has allowed theINVISTA (NASDAQ: NVDA)A rising star on Wall Street. However, after rising 224% over the past year (as of this writing), the company's stock price has hit a wall, leading some investors to believe that the best gains are now in the rearview mirror.

But at least one Wall Street analyst thinks there's still a lot of upside ahead.

Profit from the artificial intelligence boom

Bank of America) analyst Vivek Arya reiterated a $1,100 price target on the stock while maintaining a Buy rating on the stock. Compared to Wednesday's closing price, this means investors could gain 26%. The analyst talked about Nvidia's sell-off, calling it a "refreshing pause," noting that it's the ninth time since the end of 2022 that the decline has reached or exceeded 10%.

The analyst further noted that Nvidia's fundamentals are solid, and that such periods of consolidation "tend to set up the stock for a strong run later. He reiterated his view that Nvidia is "the best choice".

The Wall of Worry

If Nvidia investors are looking, they can find plenty to worry about. Increasing competition, inflation and high interest rates are all concerns. Together, these concerns could lead some unsuspecting investors to take profits before Nvidia releases its next earnings report, but that could be a costly mistake.

I recommend that investors focus on ourclassifier for houses, small buildings, hospitals and institutionsWhat to know. Artificial Intelligence is still in its early stages of development and its applications are accelerating. Until someone builds a better mousetrap, Nvidia is still the industry leader, with its graphics processing units (GPUs) being the gold standard for machine learning, a well-established branch of AI, with a market share of 95%. It is also the leader in GPUs for data center operations, with 95% of market share.the Market share of 95%.

After three consecutive quarters of record triple-digit growth, Nvidia is poised for another stellar year. The stock trades at a forward price-to-earnings ratio of 36 times. Although it's not the same asStandard & Poor's 500 The index's 28x P/E ratio is a slight premium, but it's still an attractive price in light of Nvidia's opportunities.

Should you invest $1,000 in Nvidia now?

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Bank of America is an advertising郃 partner of The Ascent, a Motley Fool company. danny Vena holds a position in Nvidia. the Motley Fool holds referrals to Bank of America and Nvidia. the Motley Fool has a disclosure policy.

A Wall Street Analyst Sees 26% Upside in Nvidia Stock was originally published by The Motley Fool.