Here's why KeyBanc analysts see more than 40% upside for Nvidia stock

Published Tue, Jul 9 202411:50 AM EDT

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Tuesday's key moments. The S & P 500 and Nasdaq climbed to new records Tuesday, extending their winning streaks to five sessions in a row. Mega-cap tech once again led the way. Goldman Sachs raised its price targets on Club names Alphabet and Meta Platforms. Piper Sandler raised its price target on Apple . We're glad to see the Street giving credit where it's due. Still, Jim Cramer said Tuesday the concentration in Big Tech is "a bit troubling" because investors aren't able to look at other opportunities in the market. Nvidia was the portfolio's biggest winner Tuesday — up roughly 2.5%. KeyBanc raised its price target on the Club chipmaker's stock to $180 per share from $130. That implies more than 40% upside from Monday's close. The analysts said that demand for Nvidia's current offerings will not slow anytime soon despite the upcoming next-generation Blackwell chip platform set for launch later this year. KeyBanc's view is no surprise to us, given Nvidia management's fantastic guidance alongside strong earnings. Eli Lilly stock hit another all-time high Tuesday on signs that the pharmaceutical giant has an edge over its GLP-1 competitors. New research indicated that tirzepatide, the active ingredient in Lilly's Mounjaro for diabetes and Zepbound for weight loss leads to more weight loss than Novo Nordisk's semaglutide. That's the active ingredient in Ozempic for diabetes and Wegovy for weight loss. We maintain our view that Lilly could hit a $1 trillion market value. Currently, it has a market cap of more than $878 billion. (Jim Cramer's Charitable Trust is long AAPL, GOOGL, META, NVDA, LLY. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.