which in our view is still not fully priced in by the market," Lee said Nvidia shares were marked 0.95% higher in early Thursday trading to changes hands at $147.57, a move that would extend the stock's six-month gain to around 61.5%.

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.

"Even with a decelerating growth rate on huge numbers, Nvidia's CY2025 PEG ratio stands at about 0.8x on our estimates. This ratio is 33% less than Broadcom's and the lowest in the Mag 7 by a wide margin," Reitzes said. Nvidia stock is up 197% year-to-date and trading about 2% below its record high of $149.77 per share.