Nvidia stock (NASDAQ: NVDA) opened Wednesday’s trading bell at $207 and remains on the red side of the spectrum. The leading GPU maker is down close to 7% in a month after falling from a high of $224. Fears of a bearish takeover pulling it below the $199 range are high due to the market volatility.

On the heels of the bearish catalyst, investment banking firm Oppenheimer has given Nvidia stock a buy rating. The financial services company predicts that NVDA is set to generate double-digit gains for investors. Taking an entry position at the current level or buying the dips below $200 could open up the window for better gains.

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What Is Nvidia Stock Price Target? Oppenheimer Reveals

Rick Schafer, the Semiconductor Equity Analyst at Oppenheimer, wrote in a note to clients that Nvidia stock could reach a high of $265. That’s a profit of close to $58 per share if traders take an entry position today. Overall, it’s an uptick and return on investment of approximately 28% from its current price of $207. Therefore, an investment of $1,000 could turn into $1,280 if the price prediction from Oppenheimer turns out to be accurate.

The analyst stressed that Nvidia’s integrated NVL72 server racks remain the absolute and undisputed leader in performance-per-watt metrics. Schafer stressed that the company earns high-margin returns with sales and is now the go-to for firms building their data centers. This can push Nvidia stock higher in the charts, leading to a run to the $265 price target.

Tech stocks have mostly remained volatile this year, but a breather is in Q2, as prices rebounded. They remain under pressure again due to sell-offs and the macroeconomic factors affecting their growth. Nvidia stock must be seen as a long-term investment vehicle rather than a quick money scheme. The potential for NVDA to deliver staggering returns remains high the longer an investor holds it.