After retreating 27% in the past three weeks, Nvidia (NVDA) stock is attempting a rebound. Several Wall Street bulls say shares of the AI chipmaker are trading at an attractive valuation now.

In morning trades on the stock market today, Nvidia stock jumped more than 6% to 115.

BofA Securities reiterated its buy rating and price target of 200 on Nvidia stock on Wednesday. In a client note, the firm said Nvidia is trading "at a very compelling price" ahead of the company's flagship GPU Tech Conference next week.

At the conference, Nvidia is expected to present updates on its Blackwell Ultra and Rubin processors and next-generation networking technology. It also will discuss long-term opportunities in autonomous cars, physical AI, robotics and quantum computing.

Wedbush Securities analyst Daniel Ives said investors need to think long-term about stocks involved in the artificial intelligence megatrend.

"Our bullish calls on Nvidia, and many of the Mag 7, have been upside down this year," Ives said in a client note Wednesday. "But our stock calls are not for the next few months, (they are) for where we see these tech names over the next 1, 3, and 5 years."

Nvidia Stock Catalyst: GTC Conference News

Next week's GTC conference could be "a turning point for tech stocks" as investors start to refocus on "the AI Revolution and the massive tech spending ahead," Ives said.

Wells Fargo Securities analyst Aaron Rakers maintained his overweight, or buy, rating on Nvidia stock with a price target of 185 on Tuesday.

In a client note, he said the market turmoil in the wake of actions by the Trump administration have created a "buying opportunity" for Nvidia stock.

"GTC 2025 can't come fast enough," Rakers said.