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Investing.com - Wolfe Research raised its price target on Nvidia (NASDAQ:NVDA) to $230.00 from $220.00 on Thursday, while maintaining an Outperform rating on the stock. The semiconductor giant, currently valued at $4.43 trillion, has demonstrated remarkable growth with revenue surging 86.17% over the last twelve months to $148.51 billion.
The firm cited Nvidia’s fiscal second quarter and third quarter results, which came in slightly above Street expectations, noting that China revenue remains excluded from the company’s outlook amid ongoing geopolitical challenges.
Wolfe Research highlighted strong AI revenue growth in all other regions, with accelerating rack production at Nvidia’s partners contributing to the positive outlook.
The research firm modestly increased its fiscal year 2026 and 2027 projections, forecasting approximately $152 billion and $208 billion in datacenter GPU revenue for those years, respectively, driving EPS estimates of $4.48 and $6.20.
At current trading levels, Nvidia stock is valued at approximately 29 times Wolfe Research’s fiscal year 2027 EPS estimate, leading the firm to maintain its position that Nvidia remains its "favorite AI stock."
In other recent news, Nvidia reported its latest quarterly earnings, achieving a modest beat with a raise, although guidance excluded contributions from China due to export license uncertainties. Morgan Stanley adjusted its price target for Nvidia to $210, maintaining an Overweight rating, as the company forecasted $7 billion in incremental quarterly revenue without China sales. Meanwhile, TD Cowen held its Buy rating and a $235 price target, describing the results as "lackluster" by Nvidia’s standards, despite a mild earnings beat driven by strong Gaming and Networking segments. William Blair reiterated an Outperform rating after Nvidia’s earnings, highlighting the company’s performance. Goldman Sachs also maintained its Buy rating with a $200 price target, noting Nvidia’s in-line quarterly results and guidance. BofA Securities raised its price target to $235, citing Nvidia’s dominance in the AI infrastructure market with over 80% market share and strong cash flow margins. These developments reflect Nvidia’s ongoing influence in the tech sector and investor interest.
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