Nvidia is well placed to provide the tech necessary to develop new AI models, and it's got an edge with big enterprise customers, BofA analysts note.

A BofA analyst sees room for Nvidia Corp. shares to tack on another 40% or so to their explosive rally, as a “generational opportunity” further unfolds. BofA’s Vivek Arya upped his price objective on Nvidia shares NVDA to $190 from $165 in a Thursday report, with that target implying 39% upside from Thursday’s close.

Nvidia stock was rising Friday after a volatile week for the leading chip maker. With Big Tech earnings kicking off next week, one analyst sees a big potential gain for the share price. Nvidia shares were up 0.