Nvidia Stock Erupts To New Highs — Cantor Fitzgerald Sees 49% More Upside

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Nvidia Corporation shares are soaring ahead of first-quarter financial results, as CEO Jensen Huang travels to China with President Donald Trump. An analyst previews first-quarter expectations and why shares could be headed higher.

The Nvidia Analyst

Cantor Fitzgerald analyst CJ Muse reiterated an Overweight rating on Nvidia stock and raised the price target from $300 to $350.

The Analyst Takeaways

Fans of the poker movie "Rounders" may have a good laugh with the analogy used by Muse in the new investor note.

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"Nyet, nyet. He (Jensen) beat me (everyone) straight up, pay that man his money (multiple)," Muse said in the note, using the movie analogy.

In “Rounders,” the quote is used when a man realizes he’s been beaten at the game of poker. In this analogy, Muse realizes that Nvidia has won the game and deserves a higher multiple.

The analyst believes Nvidia compute supply is sold out for both 2026 and 2027.

"We believe there is clear support for a vision for Y/Y/ growth at NVDA through 2028-2029 at a minimum."

Muse said fears of competition have hurt Nvidia's multiple, which is "incredibly low" at 14x calendar year 2027 estimates. The analyst's new price target of $350 is based on 22x to 23x calendar year earnings per share estimates of $15 to $16.

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The analyst expects Nvidia to report a beat and raise on May 20, along with showing strong demand in the AI cycle.

"Any real positive momentum in shares will lead to meaningful upside — our only question is when (not if)."

Muse said token demand from Anthropic and OpenAI points to compute demand being strong and supply likely being tight. The analyst said this demand also confirms a strong return on invested capital for AI.

Image via Shutterstock

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