Nvidia Shares Poised for Potential Surge as Analysts Raise Price Targets Ahead of Earnings
NEW YORK – Despite recent market headwinds, Wall Street analysts are growing increasingly bullish on nvidia (NVDA) ahead of its quarterly earnings report, scheduled for release on Wednesday. Several major firms have upgraded their price targets for the tech giant, citing strong growth prospects in its data center business and emerging AI technologies.
Analysts Maintain Optimism Despite Recent Dip
Nvidia’s share price has experienced a recent decline, but analyst sentiment remains largely positive. A wave of price target increases from prominent banks signals confidence in the company’s future performance.
Fubon Securities and Rothschild & Co Redburn have both recently raised their price targets to $250 and $245, respectively. Evercore ISI,Oppenheimer,Morgan Stanley,and Wells Fargo are also anticipating a positive trajectory for the stock.
Data Center Growth fuels Optimism
Oppenheimer analyst Rick Schafer believes Nvidia is positioned to outperform expectations, notably within its data center division, which currently accounts for 88% of total revenue. Schafer forecasts a year-over-year growth of 58% for this segment. He projects revenue of $54.7 billion for the current quarter and anticipates an even stronger $61.5 billion in the next, setting a price target of $265.
jpmorgan’s Harlan Sur maintains a $215 price target, highlighting the importance of the GB300 Ultra chip as a key driver of growth, particularly in the rapidly expanding field of AI applications requiring increased data capacity.
Average Price Target Climbs to $242
According to data from the analysis platform TipRanks, the average price target for Nvidia now stands at $242, based on 39 analyst ratings over the past three months. This suggests significant upside potential from current levels, especially as investors position themselves in anticipation of a strong earnings report.
Morgan Stanley recently increased its price target from $210 to $220, while Wells Fargo raised theirs to $265, accompanied by revenue expectations ranging from $50 to $60 billion.
