Semiconductor giants Nvidia (NASDAQ: NVDA) and Advanced Micro Devices (NASDAQ: AMD) received bullish updates on Wednesday and Thursday, as analysts at Mizuho raised their price targets on both stocks while maintaining Outperform ratings.
Nvidia new price target at $185
Mizuho lifted its price target on Nvidia to $185 from $170, reflecting growing optimism around the chipmaker’s accelerated product roadmap and robust AI demand.
Nvidia shares were trading at $159.94, up 1.7% at the time of publication, and setting a new 52-week high above $158.71. NVDA shares have now posted a 25% gain over the past year.
The firm kept its July quarter estimates unchanged, forecasting $45.0 billion in revenue and $0.98 earnings per share, with data center revenue expected to reach $41 billion, a 5% quarter-over-quarter increase.
Looking further ahead, Mizuho analyst Vijay Rakesh raised his fiscal 2026 estimates from $195 billion in revenue and $4.16 EPS to $202 billion and $4.38 EPS, citing slightly improved GPU supply and an earlier-than-anticipated launch of Nvidia’s GB300and air-cooled Rubin products as key growth catalysts.
Rakesh’s revised price target reflects a 32.7x multiple on Nvidia’s FY2027 EPS estimate, up from the previous 32.0x multiple, as Mizuho anticipates growing demand for GB200 chips in H2 2025 ahead of the GB300 ramp.
The report also highlighted Nvidia’s efforts to develop a new “B40” accelerator for the Chinese market, though shipments remain blocked due to U.S. export restrictions. Meanwhile, the broader Rubin product line is expected to drive growth well into 2026.
AMD stock price target increased to $152
Mizuho also raised its price target on AMD to $152 from $135, pointing to stable financials and stronger prospects for its AI accelerator business. AMD stock was trading at $138.28 at press time, having gained 13% over the past six months.
For the June quarter, the firm maintained a revenue forecast of $7.40 billion, in line with consensus, while adjusting earnings per share to $0.47, slightly below the $0.49 consensus.
For fiscal year 2025, Mizuho reiterated a $32 billion revenue target and slightly revised its EPS forecast to $3.90 from $4.02, compared to the consensus of $3.94.
The updated $152 price target now reflects a 25.9x multiple on FY2026 EPS, up significantly from the prior 18.6x multiple. This adjustment accounts for a slightly better ramp of AMD’s MI355X AI chips expected in the second half of 2025.
