Investors are eyeing a potential surge in Nvidia Corp. (NASDAQ:NVDA) stock, with analysts predicting a significant rise in the early days of 2025. The anticipation is fueled by expectations surrounding CEO Jensen Huang's keynote address at the event.
What Happened: Analysts at Citi have placed Nvidia on a "positive catalyst watch" for the upcoming 90 days, Business Insider reported on Thursday. The firm predicts the chipmaker's shares could climb by 27%, reaching a target price of $175. This forecast comes as Huang prepares for his keynote at CES 2025, scheduled from Jan.7 to Jan.10. Huang will deliver the opening keynote on Jan. 6, followed by a Q&A session for financial analysts on Jan. 7, according to Citi.
Citi analyst Atif Malik forecasts that Nvidia's profit margin will bottom out in the April quarter, with an upward trend expected thereafter. The company is anticipated to address AI robotics demand in sectors like warehouses, manufacturing, and humanoid robots.
Citi has maintained a "Buy" rating on Nvidia shares, raising its price target from $170 to $175 following the company's third-quarter earnings release. Nvidia shares have surged 176% year-to-date, driven by strong demand for its AI GPU chips.
Why It Matters: Nvidia's recent financial performance has been impressive, with the company surpassing third-quarter revenue and earnings per share estimates. The revenue of $35.1 billion, was a 94% increase year-over-year, beating the Street consensus estimate of $33.12 billion.
Additionally, the CES 2025 event is expected to be a platform for Nvidia to potentially reveal its next-generation GPUs. Rumors suggest that Nvidia might unveil updates about its RTX 50 series, including desktop GPUs based on the Blackwell architecture. This anticipated announcement could further bolster Nvidia's market position and stock performance.
Price Action: Meanwhile, as per Benzinga Pro data, Nvidia has a consensus price target of $170.56 based on the ratings of 40 analysts. The high is $220 issued by Rosenblatt while the low is $120 issued by New Street Research.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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