Nvidia (NVDA) Stock Surges to Fresh 52-Week Peak as BofA Boosts Price Target to $320

Nvidia’s stock surged to $227.84 on Thursday, marking its highest 52-week peak after Bank of America (BofA) increased its price target from $300 to $320 while maintaining a Buy rating. The upgrade reflects expectations of robust AI-driven growth, with BofA analyst Vivek Arya highlighting an expanding AI infrastructure market and accelerating investments. Nvidia’s shares had closed the prior session at $220.78, continuing a six-day rally ahead of its May 20 earnings report. Analysts project Nvidia’s Q1 FY2027 revenue will reach $78.62 billion, a 78% year-over-year increase, with earnings per share forecasted at $1.74. The company’s Q4 FY2026 results already exceeded estimates, reporting $68.13 billion in revenue and $1.62 in earnings per share. Citi analysts suggest first-quarter revenue could surpass expectations by $1.4 billion, reinforcing optimism ahead of the earnings release. Speculation over Nvidia’s potential H20 chip exports to China intensified following CEO Jensen Huang’s trip with former President Trump during his Middle East and Asia diplomatic mission. While Nvidia secured U.S. approval for sales to 10 Chinese firms, no shipments have occurred due to Beijing’s reluctance to submit purchase orders. The company’s $5.5 trillion market cap remains unaffected by current export restrictions, which prohibit Chinese revenue. BofA’s Arya pointed to additional catalysts, including a possible CPU announcement at Computex Taipei and deliveries of the Vera Rubin AI system in late 2026. Nvidia’s stock rally also follows Wells Fargo and Susquehanna raising their price targets ahead of earnings. Among 54 tracked analysts, 48 maintain Buy or Strong Buy ratings, underscoring bullish sentiment. The stock’s momentum reflects broader confidence in Nvidia’s AI leadership and growth trajectory, despite geopolitical uncertainties. Analysts emphasize upcoming product releases and capital returns as key drivers for sustained performance.