Analyst revises Nvidia stock price target

On April 25, Joseph Moore, an equity researcher from banking giant Morgan Stanley, revised his price target on Nvidia stock (NASDAQ: NVDA).

Moore maintained a prior ‘Strong Buy’ rating but decreased his price target from $162 to $160. The revised price forecast implies a 46.76% upside from the price of NVDA shares as of press time on April 30, which stood at $109.02. 

Despite the price target cut, Moore’s long-term outlook — as well as his commentary, is bullish. In a note shared with investors, the Morgan Stanley analyst noted that demand for GPUs has skyrocketed in the past month amid a shortage of inference chips across most relevant large language models (LLMs) in all geographies.

While the researcher did concede that investor sentiment regarding Nvidia stock is worsening on account of macro and supply chain risks, he dubbed the idea that we are in a “digestion phase for artificial intelligence (AI)” as laughable. Finally, price target cut notwithstanding, Moore said that NVDA remains Morgan Stanley’s top pick.

Moore’s Nvidia stock price target cut is a reflection of a broader trend

In the aftermath of the tariff war ramp-up and the H20 chip export ban, numerous Wall Street equity analysts have revised their coverage in a manner similar to Moore, reducing their price targets but remaining quite bullish in the long run. 

Bank of America’s Vivek Arya cut his price forecast from $200 to $160, while Raymond James researcher Srini Pajjurri slashed their price target from $170 to $150. In a similar vein, Barclays’ analyst Tom O’Malley revised his price target from $175 to $155.

While there is a broad consensus that trade dynamics and export controls will present an ongoing issue for the rest of H1 2025, the strength of core operations is also universally agreed upon. Even with downward revisions accounted for, the average price target for Nvidia stock still implies a fairly large upside.

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