On late Thursday, Graphics-chip maker NVIDIA (NASDAQ:$NVDA) received a bullish report from Wall Street analysts. Word on the street is that the company’s stock could reach 300 under a bull-case scenario.

RBC Capital Markets analyst Mitch Steves reiterated his outperform rating on Nvidia and raised his base-case price target to 250 from 240.

For its third quarter, NVIDIA reported earnings and revenue that handily beat Wall Street expectations. EPS for the three-month period came in at $1.33 compared to the $0.49 expected by analysts. Revenue of $2.64 billion also blew past the $2.36 billion in revenue Wall Street was looking for. The chipmaker also lifted its dividend 7% to $0.15 a share and stated it will return $1.25 billion to shareholder over the course of the next fiscal year.

Nvidia shares increased 1.4% near 214.50 in morning trading on the stock market today. As of Nov 10th, Nvidia hit a record high of 218.67.

Specifically, Facebook (NASDAQ:$FB) has been a big buyer of Nvidia DGX-1 chipsets for deep learning and artificial intelligence applications.

Further, gaming chip sales are also driven by increased processing requirements for the latest ultra-realistic video games. Nintendo (NASDAQ:$NTDOY) Switch console demand and virtual-reality headsets are also likely to drive Nvidia chip sales.

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