Shares of Nvidia continued their upward momentum, rising about 1.2% on Friday to move back above the $200 mark, as the chipmaker’s recent rally gathered pace.
The stock has gained roughly 10% over the past 30 days, rebounding from lows near $175 and approaching its all-time closing high of $207.04, reached in late October.
While the rally has been notable, Nvidia has struggled to consistently hold above the $200 level, which remains a key threshold for investors.
Rally lags some chip rivals
Despite its recent gains, Nvidia’s performance has lagged behind some competitors in the semiconductor sector.
Shares of Advanced Micro Devices have surged around 41% over the past month, while Intel has climbed approximately 60% over the same period.
The divergence has been driven in part by growing enthusiasm for central processing units (CPUs) used in AI servers, compared with Nvidia’s focus on graphics processing units (GPUs).
However, analysts suggest that relative underperformance should not deter investors from Nvidia.
Wall Street analysts remain bullish on Nvidia stock
Oppenheimer analyst Rick Schafer reiterated an Outperform rating on Nvidia with a $265 price target, while maintaining more neutral views on AMD and Intel.
“[Nvidia’s] Best-in-class Blackwell Ultra (GB300) NVL racks lead the market by two generations, in our view,” Schafer said.
“The AI castle on a hill boasts best performance/watt training and inference.”
He added that Nvidia is currently trading at around 17 times his projected 2027 earnings, below the semiconductor sector average of roughly 20 times, suggesting relative valuation support.
Analysts at Bernstein also maintained a bullish stance, reiterating a Buy rating with a $300 price target.
Led by David Dai, the firm highlighted Nvidia’s upcoming Vera Rubin platform, expected to begin shipping in the second half of 2026.
Bernstein described the platform as “a monster,” projecting that it will deliver five times more inference performance and 3.5 times more training performance compared with current models.
The firm noted that these performance gains are being achieved with only 1.6 times more transistors, indicating improvements in design efficiency.
Valuation seen as attractive
Despite the stock’s recent rally, analysts argue that Nvidia’s valuation remains relatively attractive given its growth trajectory.
Bernstein said the stock is trading at a price-to-earnings-growth (PEG) ratio of 0.77, suggesting that the share price has not fully reflected expected earnings expansion.
The firm estimates Nvidia could generate more than $12 in earnings per share by 2027, a figure it described as “very plausible.”
According to the analysis, Nvidia is trading at approximately 15 times its projected 2027 earnings, below the sector average of around 20 times.
While competitors continue to invest heavily in AI hardware, analysts believe Nvidia maintains a significant technological lead.
Bernstein said the company’s next-generation offerings “ought to cement” its position in the AI chip market, creating a gap that rivals such as AMD and Intel may find difficult to close.
Although the stock has yet to establish a firm breakout above $200, continued demand for AI chips, upcoming product cycles, and supportive analyst views suggest the company remains a key focus for investors heading into semiconductor earnings season.
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