This new target represents a potential increase of 27% compared to the stock's previous closing price and surpasses the analyst consensus estimate of $122.13 per share.

Jefferies analyst Blayne Curtis, responsible for the updated price target, maintained a "buy" rating for NVDA stock, aligning with the consensus analysis based on 44 opinions. The optimistic outlook from Jefferies comes at a time when NVDA stock continues to show promising growth.

Curtis highlighted Nvidia as both the "king" and "kingmaker" in the market, emphasizing the company's significant influence in guiding technological advancements. While Curtis refrained from labeling any future losers for 2025, concerns regarding the pipeline of competitor Advanced Micro Devices (AMD) were noted. The analyst emphasized that NVDA's pivotal decisions in each generation could have a material impact on the growth trajectories of companies like Marvell Technology Group Ltd (MRVL) and Altaba Inc (ALAB) which are closely tied to Nvidia's operations.

Following the news of the increased price target, NVDA stock exhibited a 3% surge in Tuesday morning trading, with over 124 million shares changing hands. Although trading volumes fell short of the stock's daily average of around 440 million shares, the positive momentum indicated growing investor confidence in Nvidia's future prospects.

As investors eagerly await more news from the stock market, the latest developments surrounding companies such as Chipotle Mexican Grill Inc (NYSE: CMG), Novo Nordisk A/S (NYSE: NVO), and Beyond Air Inc (NASDAQ: XAIR) are bound to captivate their attention. Stay updated with the latest stock market trends and stay informed about the most recent developments shaping the industry.