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Bank of America Says NVIDIA Stock May Be Undervalued by 34%-50%, Maintains "Buy" Rating and $350 Price Target
Bank of America stated that NVIDIA's stock may be undervalued by 34% to 50%, as investors might have exaggerated AI-related risks. The bank believes that NVIDIA's aggressive investments in AI represent a long-term opportunity, despite potential balance sheet risks from a slowdown in demand. Bank of America maintained its "Buy" rating on NVIDIA and set a price target of $350, indicating significant upside from the current share price of approximately $219.
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