In what is certainly a surprise to few, Nvidia (NVDA) has been dominating interest from Wall Street, with Bank of America recently calling the chipmaker a top stock. Although interest remains, the stock has struggled in the early weeks of the new year. Yet, the top AI firm may still be set to target an increase to $175.

Bank of America analyst Vivek Arya has recently noted his positivity regarding the stock’s performance this year. He certainly is not alone. Arya is currently among the top 2% of Wall Street professionals and has noted the company is at the start of a $2 trillion “infrastructure opportunity” that could take it to new heights.

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Nvidia to $175? Why Bank of America is Among the Analysts Calling NVDA a Clear Buy

Throughout the last year, Nvidia has dominated stock market discussions. It had increased more than 170% over the last twelve months. Moreover, it was a clear focus of the burgeoning AI sector that had seen immense demand on Wall Street.

There could be more of the same in store for the company this year. Indeed, Nvidia has recently been championed by Bank of America analyst Vivek Arya, as NVDA stock may be set to target $175 this year. Indeed, Arya noted that AI demand is still “very strong” across both the company’s Hopper and Blackwell platforms.

Also Read: NVIDIA (NVDA) & 2 More Chip Stocks Set for Massive Gains in 2025—Analyst

Additionally, Arya predicts that, when Blackwell fully ramps, gross margins will return to the mid-70% range. Although the analyst expects volatility “until Q4 earnings,” due to Chinese restrictions, he expects a catalyst in the form of the upcoming GTC conference in March.

Altogether, Arya called the stock a “top sector pick.” He reiterated his buy rating on the AI stock while reinforcing his $190 price target with 44% potential gains. In terms of consensus, the analyst is more on the optimistic end. According to 65 analyst projects, the stock holds a median price target of $175, according to CNN Data. Moreover, it has a high-end projection of $220, a 61% jump from its current position.