Nvidia Stock Forecast: Buy This ‘Too Cheap to Ignore’ Stock, Says Wolfe Research

FomoAnxiety · 2026-03-21T16:47:20+00:00

Chris Caso from Wolfe Research considers Nvidia's recent stock dip an attractive buying opportunity. Despite a 3.8% decline, he maintained a Buy rating, predicting significant upside. With strong revenue projections and a consensus Strong Buy rating, analysts are optimistic about Nvidia's future.

FomoAnxiety

2026-03-21 16:47:20

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Wolfe Research analyst Chris Caso calls Nvidia NVDA -3.28% ▼ 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.

Have high conviction in NVDA? Leverage your view

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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