Following Nvidia‘s blockbuster Q1 earnings, Wall Street analysts across the board are adjusting their price targets and outlooks for the AI chip giant.
While some raised their targets modestly, others issued strong upward revisions, citing booming demand for Blackwell GPUs, rapid ramp-up in hyperscaler spending, and improving margins.
Bank of America reiterated its Buy rating, bumping its price target from $160 to $180. Analysts were encouraged by Nvidia’s derisking in China, a sharp ramp-up in Blackwell rack production (~$100B opportunity), and renewed confidence in gross margins returning to the mid-70% range later this year.
Wells Fargo also maintained an Overweight rating with a $185 target, noting Nvidia’s better-than-expected guidance for fiscal Q2 and estimating EPS in the $0.94–$1.02 range. The firm highlighted Nvidia’s current valuation as attractive relative to the SOX index.
Melius Research struck a more bullish tone, lifting its target to $205 and stating “the momentum is back.” Analysts pointed to stronger-than-expected demand, faster margin recovery, and sovereign AI tailwinds as key drivers.
Some Wall Street Nvidia price targets were more measured
DA Davidson, was more cautious, holding its Neutral rating but raised its target to $135. While acknowledging top-line beats, they flagged continued uncertainty around China’s contribution as a persistent overhang.
Stifel reiterated a Buy rating and a $180 target, emphasizing Nvidia’s ability to beat Q1 expectations despite missing $2.5B in China-related H20 GPU sales. Blackwell and GB300 ramp-ups were noted as key growth engines for the rest of the year.
Morgan Stanley raised its FY26/27 estimates and bumped its target to $170, citing strong Blackwell demand and margin improvement. The firm still sees “a high probability of upward revisions” from here.
Evercore ISI keeps NVDA shares as a Top Pick
Evercore ISI kept Nvidia as a Top Pick and lifted its target to $190, praising the company’s leadership in the AI ecosystem. Analysts emphasized that Blackwell now drives 70% of Data Center revenue, with GB300 production ramping imminently.
JPMorgan noted April revenue of $44 billion, ahead of estimates despite a $2.5 billion China drag. It reiterated its Overweight rating and a $170 target for NVDA shares, highlighting robust sequential growth in Data Center and continued strength in networking.
Citi raised its target to $180, pointing to Blackwell sales that exceeded expectations and improving margin visibility. The firm maintained its Buy rating with optimism around sovereign AI deals.
Truist Securities went further, lifting its price target to $210 on stronger-than-expected Jul guidance and a robust AI spending environment. They now project CY26 EPS at $5.99, and believe Nvidia still trades at a discount relative to high-growth semiconductor peers.
Finally, Summit Insights upgraded Nvidia to Buy, dropping earlier concerns around double ordering and export risk. While refraining from assigning a target, they believe Nvidia is now set up for continued outperformance.
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