Redburn Atlantic analyst Timm Schulze-Melander initiated coverage of the stock this week with a "buy" rating. The analyst set the price target at $178, implying upside of 21% over the current share price of $147 at the time of writing.

Nvidia stock may be sitting near a record high but Wall Street is getting even more bullish on the stock ahead of the chip maker’s hotly anticipated earnings next week. Nvidia surged to a record close of $148.