Wall Street’s bullish stance on Nvidia stock continues even as the stock trades at record highs. Analysts are optimistic about the next generation of Blackwell chips and Nvidia’s network of corporate partnerships, and Bank of America and Goldman Sachs are among the banks that have raised their price targets in recent weeks.
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Nvidia stock is trading at record highs, but top Wall Street analysts remain bullish.
Banking analysts have raised their price targets on the giant in recent weeks, predicting further gains despite the stock’s meteoric rise over the past year.
Shares soared to more than $142 per share on Monday, setting a new record as investors geared up for the company’s next earnings report on Nov. 20. The stock is up 193% since the beginning of the year.
But forecasters say NVIDIA still has plenty of room to rise. They point to signs of enthusiastic demand for the company’s AI-enabled GPU chips and a long list of partnerships with enterprise “hyperscalers.”
Here’s what some of Wall Street’s top forecasters are saying about their bullish outlook for the stock.
Bank of America, price target $190
BofA strategists raised their price target on the company to $190 per share from $165 last week, suggesting the stock could rise another 35% from current levels.
Analysts said in a note that the upside will be driven by Nvidia’s competitive advantages over other chipmakers and “generational opportunities” in the AI market, which is expected to grow to $400 billion.
“With improving prospects for NVDA data center computing, we see the AI accelerator market growing from just about $45 billion in CY23 to $280 billion by CY27E (and over $400 billion over time).AI Models (Demand) continues to evolve,” the bank added.
Strategists weighed in on Nvidia’s future, including comments from other tech companies and comments from CEO Jensen Huang, who described demand for Nvidia’s next Blackwell chip as “insane.” He pointed out that there are positive signs in chip demand.
Meanwhile, Nvidia has a number of “undervalued” business partnerships with companies like Accenture and Microsoft, which should contribute to its upside potential.
“We are also focused on increasing the presence of AI in companies where NVDA is selected as a partner,” the bank said. “NVDA’s work spans multiple industries (Accenture, ServiceNow, Microsoft, etc.), and services like AI Foundry, AI Hub, and NIM provide AI leadership not only on the hardware side but also on the systems/ecosystem side. It has become an important means of
Goldman Sachs, price target $150
Goldman analysts raised their price target to $150 per share from $135, suggesting a 6% upside for the stock from current levels.
Strategists said they changed their price target after meeting with Hwang. Nvidia’s CEO spoke of the company’s advantages over other chipmakers, and the bank said NVIDIA’s “competitive moat” is due to the company’s installed base, innovation and “robust and growing” software products. Said to be built on.
“While we acknowledge that the earnings trajectory beyond 2025 remains uncertain, given relative valuation multiples that remain weak relative to history and the potential for fundamentals-driven reacceleration, , we expect the stock to perform at least in line with expected revisions “by the upcoming Blackwell product cycle,” the strategists wrote.
Strategists estimate that Blackwell could also help Nvidia generate billions of dollars in revenue.
“By integrating seven chips, each of which plays a role in delivering higher performance at the data center level, Blackwell deployment and expansion is not only a driver of near- and medium-term revenue growth, but also a key driver for Nvidia’s business. Competitive Advantage: Blackwell-based product growth is on track to generate billions of dollars in revenue in the January quarter, followed by April. We expect further growth from then on.”
CFRA Research, price target $160
Research firm CFRA raised its price target to $160 per share from $139, implying a 13% upside from current levels. Angelo Gino, senior equity analyst at CFRA, said this is due to increased confidence that NVIDIA will deliver better-than-expected growth, especially as customers scramble to get their hands on new Blackwell chips.
“The higher multiples and targets reflect our greater confidence that NVDA will post results that beat our/consensus view in CY 25 as Blackwell grows. As previously cited, Blackwell will capture more wallet share from hyperscalers (e.g., larger GPUs, CPUs, and declining networking and software revenue amid the AI wars in the cloud), Zino wrote.
Bernstein, price target $155
Bernstein raised its price target to $155 per share shortly after the semiconductor maker reported second-quarter results in August.
Like other companies’ predictions, Bernstein’s upside prediction is based on the success of Blackwell GPUs.
“People are excited about this story again, especially as we get closer to earnings, and their new platform, Blackwell, will start to really take off at the end of the year and into next year. No matter how you look at it, their own comments, We need all the supply checks.’Even looking at everything else, the demand for this product seems to be off the charts,” Razgon said in an interview with CNBC in early October. He added: “If the checks are any indication, this cycle should potentially be massive.”
