Nvidia Stock Is ‘Too Cheap to Ignore’ — Wolfe Research Adds to Favorite Ideas

FomoAnxiety · 2026-03-20T16:41:56+00:00

Wolfe Research's Chris Caso views Nvidia's stock dip as a buying opportunity, maintaining a Buy rating and a $275 price target. Despite a 3.8% recent drop, optimism remains high due to strong revenue projections and new product potential, with a consensus Strong Buy rating from analysts.

FomoAnxiety

2026-03-20 16:41:56

Abstract generation in progress

Wolfe Research analyst Chris Caso calls Nvidia NVDA -1.55% ▼ stock’s current dip “too cheap to ignore” and has added it to his “favorite ideas” list. NVDA shares have trended downward lately, despite a strong showing at Nvidia’s GTC 2026 developer conference this week. Over the past five days, the stock has fallen 3.8%, wiping out billions in value for a company with a $4.28 trillion market cap.

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Caso reiterated his Buy rating and $275 price target, implying 56.7% upside potential. He is a five-star analyst on TipRanks, ranking #93 out of 12,128 analysts tracked. Caso boasts a 62% success rate and an impressive average return per rating of 26.80%.

Nvidia Presents a ‘Buy the Dip’ Opportunity

At Nvidia’s conference this week, CEO Jensen Huang revealed $1 trillion in expected revenue from Blackwell, Blackwell Ultra, and Rubin through 2027, excluding Rubin Ultra, which ramps up in late 2027.

New trading tool for NVDA bulls/bears

Caso sees a base case of 14%-17% upside to consensus data center estimates through FY28, rising to over 25% in the bull case with 10% added unbooked revenue. He believes new products like NVLink (high-speed GPU interconnect) could add another $50 billion in FY28 data center revenue for every 10% attachment rate. This drives base/bull EPS to $12.50/$14.

With NVDA stock at just 13x bull-case EPS, the shares remain a screaming buy and top idea. Caso’s assumptions include that the $1 trillion revenue projection excludes Hopper and Rubin Ultra, as the CEO confirmed twice during his keynote. Yet it includes networking like Spectrum-X and Bluefield, and treats future products like Storage X‑architecture (STX), GeForce RTX, and Groq LP30 and LPX nodes as extras.

Is Nvidia Stock a Buy?

Analysts remain highly optimistic about Nvidia’s outlook. On TipRanks, NVDA commands a Strong Buy consensus rating based on 41 Buys and one Hold rating. The average Nvidia price target of $274.03 implies 56.6% upside potential from current levels.

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