KeyBanc has raised its Nvidia (NASDAQ: NVDA) stock price target to $330 from $310 while maintaining an ‘Overweight’ rating on the AI chip giant.
With Nvidia stock trading at about $203 at press time, the new target implies roughly 62% upside.
The updated price target reflects the firm’s confidence in Nvidia’s AI growth outlook despite a slight delay in the rollout of its next-generation Vera Rubin platform.
KeyBanc analyst John Vinh said the delay poses minimal risk to earnings estimates, supported by strong demand for AI hardware and improving supply chain conditions.
The analyst expects Nvidia to ship more B300 GPUs instead of the older R200 platform, while forecasts for CoWoS advanced packaging capacity in 2027 have been revised higher.
The firm now expects CoWoS supply to reach approximately 1.1 million interposers next year, reflecting continued demand for AI infrastructure.
Wall Street bullish on NVDA stock
The revised target comes as Wall Street remains broadly bullish on Nvidia stock. According to analyst consensus data, 37 analysts at TipRanks currently rate NVDA a ‘Strong Buy’. The average 12-month Nvidia stock forecast stands at $309.94, with a high target of $500 and a low target of $250.
The positive outlook comes as Nvidia’s AI business continues to drive its financial performance.
In the first quarter of fiscal 2027, ended April 26, 2026, the semiconductor giant reported record revenue of $81.6 billion, up 85% year over year.
The data center segment generated $75.2 billion, accounting for roughly 92% of total revenue and underscoring the company’s dominance in the AI accelerator market.
Profitability remained strong, with gross margins near 75% and robust cash generation supporting shareholder returns.
Nvidia’s AI offering
Nvidia’s outlook remains closely tied to AI spending from major cloud providers, including Microsoft, Amazon, Alphabet, Meta, and Oracle, which continue to invest heavily in AI infrastructure.
The company’s Blackwell platform ramp and future Vera Rubin products are expected to be key growth drivers in the coming years.
Investors will likely focus on Nvidia’s next earnings report, expected around August 26, 2026, for updates on Blackwell demand, margins, production capacity, and the Vera Rubin deployment timeline.
Despite risks tied to U.S.-China export restrictions and elevated valuation levels, analysts remain broadly positive on Nvidia stock due to sustained AI demand and the company’s leadership in accelerated computing.
