Nvidia got another upgrade, this time it is from Goldman Sachs

Nvidia (NASDAQ: NVDA) witnessed a further increase in its recent upward trajectory on Monday, buoyed by Goldman Sachs reaffirming its Conviction Buy rating and elevating the price target for the semiconductor giant. Analyst Toshiya Hari cited current industry indicators pointing to robust demand for AI-linked servers and an improvement in GPU supply. Hari adjusted the price target to $800, surpassing the average Wall Street projection of $679.64, while also revising upwards the adjusted earnings per share estimates for 2025 and 2026 by an average of 22%.

Year-to-date, Nvidia shares have surged by 37%, with an additional 8% gain over the last five trading sessions. Hari dispelled initial concerns about a potential decline in data center revenue in the latter part of the year, now foreseeing sustained growth through the first half of 2025. He attributed this positive outlook to ongoing investments in generative AI by major cloud service providers, an expanding customer base, and the introduction of new product cycles, such as the H200 and B100.