Nvidia could have more room to run, according to Daiwa Capital Markets. The firm raised its price target on the chipmaker to $165 per share from $115 and reiterated its outperform rating. Daiwa's forecast calls for about 16% upside from Wednesday's close. Analyst Louis Miscioscia said in a Wednesday note that Nvidia is "back in the driver's seat." He lauded the company's first-quarter results released last week . He also noted that the company has multiple growth drivers that underpin his optimistic view, including robust inference demand from Microsoft, OpenAI and Google, which could signal a growing appetite for Nvidia chips. NVDA YTD mountain Nvidia stock in 2025. "We are back in a rally phase given good quarterly growth and the same expectation for 2025," Miscioscia said. "CEO [Jensen]

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