Nvidia (NVDA) stock has continued to dominate the AI trade in 2026, with Wall Street analysts growing increasingly bullish as hyperscalers ramp up spending on artificial intelligence infrastructure. While Nvidia shares have already delivered strong gains this year, some analysts believe the rally may still be far from over.
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Forget margin or options. Here's how the pros trade AMZNAmong the most bullish analysts covering Nvidia is four-star Melius Research analyst Ben Reitzes. The analyst recently reiterated a Buy rating on NVDA stock and increased his price target to a Street-high of $380 from $350. That price target implies a potential 61.85% upside for the shares.
Why Is Reitzes So Bullish on Nvidia Stock?
Reitzes expects Nvidia to deliver another major earnings beat alongside raised guidance in its upcoming quarterly report. According to the analyst, Nvidia shares are currently trading well below the company’s long-term growth rate despite its continued dominance in AI infrastructure.
The analyst also pointed out that Nvidia stock trades at roughly a 50% discount to Advanced Micro Devices (AMD) stock when adjusting for the impact of stock-based compensation. Reitzes argued that this valuation gap looks increasingly attractive considering Nvidia’s leadership position in the AI market.
Another major reason for the bullish NVDA outlook is the rapid acceleration in AI spending from hyperscalers. According to Reitzes, Amazon (AMZN), Alphabet (GOOGL), Meta Platforms (META), and Microsoft (MSFT) are now expected to spend nearly $700 billion building out AI infrastructure in 2026. Looking ahead, Reitzes expects total AI-related capital expenditures to surpass $1 trillion by 2027.
Nvidia Stock Movement Today
Nvidia stock was up 3.78% on Thursday, extending a 26.61% year-to-date rally. The shares have also climbed 67.49% over the past 12 months as investor demand for AI-related stocks remains strong.
NVDA stock trading activity today saw some 72.74 million shares change hands, compared to a three-month average daily trading volume of about 160.39 million shares.
Is Nvidia Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Nvidia is Strong Buy, based on 40 Buy, one Hold, and one Sell rating over the past three months. With that comes an average NVDA stock price target of $279.28, representing a potential 19.05% upside for the shares.
