Aug 28, 10:56 AM

Wave of Analyst Upgrades Pushes Nvidia Price Targets Up to $235

Wall Street analysts have issued a flurry of price-target increases for Nvidia Corp. after the chipmaker’s latest quarterly results and outlook reinforced expectations of continued demand for its artificial-intelligence processors. Bank of America Global Research lifted its target to $235 from $220, the highest among the newest revisions. Citigroup moved to $210 from $190, while JPMorgan raised its view to $215 from $170. Morgan Stanley boosted its target to $210 from $206, noting Nvidia’s "unprecedented" guidance for a $7 billion sequential revenue gain even without sales to China. Additional upgrades came from Jefferies ($205), Deutsche Bank ($180), Argus Research ($220) and DA Davidson ($195). KeyBanc and other brokerages also nudged their projections higher, leaving most estimates clustered between $205 and $235. The broad upward revisions underscore confidence that Nvidia can sustain 30-plus-percent annual revenue growth through the second half of the decade as companies race to deploy AI infrastructure.