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One Analyst Says NVIDIA Reaches $400 on Earnings Alone. Cramer Wants a $500 Billion Buyback to Force It.

9/2/2026

Two voices looked at NVIDIA Corporation (NASDAQ: NVDA) inside the same 12-hour window and prescribed opposite remedies.

Pierre Ferragu of New Street Research says the stock reaches $400 within 18 months on earnings power alone.

Jim Cramer says it needs a buyback so large that the company's existing authorization cannot come close to covering it. That disagreement is more telling than either headline on its own.

The case for Ferragu rests on a repricing argument. Speaking Tuesday morning, he called a $400 price target "very, very, very likely," pointing to Jensen Huang's guidance for at least 70% business growth next year.