Nvidia stock price target raised to $235 from $175 at TD Cowen

Investing.com - TD Cowen raised its price target on NVIDIA (NASDAQ:NVDA) to $235.00 from $175.00 on Tuesday, maintaining a Buy rating on the chipmaker’s stock. According to InvestingPro data, NVIDIA is currently trading near its 52-week high of $184.48, with an impressive revenue growth of 86.17% over the last twelve months.

The firm cited NVIDIA’s strong fundamentals and "clean narrative" despite concerns surrounding the company’s H20 chip and China business. TD Cowen believes the transition between NVIDIA’s Blackwell and Blackwell Ultra products is progressing "rapidly and smoothly." This assessment aligns with NVIDIA’s excellent financial health score on InvestingPro, supported by a robust gross profit margin of 70.11% and strong cash flows.

The analyst noted that NVIDIA is trading at a discount to Broadcom (NASDAQ:AVGO) despite what TD Cowen sees as a "cleaner set-up," and maintained that NVIDIA "remains the best and cleanest way to play AI."

TD Cowen’s October quarter estimate of $55 billion remains unchanged and does not include H20 revenue due to "timing/magnitude uncertainty." This estimate stands above the current Wall Street consensus.

The firm also expressed confidence in its above-consensus 2026 estimates, suggesting potential upside beyond adding back datacenter sales to China, and expects NVIDIA to "build visibility" to approximately $7 in calendar 2026 earnings over the next 2-3 quarters.

In other recent news, Nvidia has seen significant attention from analysts, with TD Cowen raising its price target for the company to $235, up from $175, while maintaining a Buy rating. This adjustment is based on Nvidia’s strong fundamentals and smooth product transitions. Additionally, Morgan Stanley (NYSE:MS) has increased its price target for Nvidia to $206 from $200, maintaining an Overweight rating. The firm has also revised its revenue forecasts, projecting $46.6 billion for the July quarter and $52.5 billion for the October quarter, reflecting confidence in Nvidia’s financial performance.

In other developments, Nvidia announced a major upgrade to its GeForce NOW cloud gaming platform, implementing its Blackwell architecture starting in September. This enhancement will allow streaming at up to 5K resolution and 120 frames per second, without increasing membership costs. Meanwhile, US Commerce Secretary Lutnick discussed the potential for converting funding for Intel (NASDAQ:INTC) into an equity stake, emphasizing a desire for domestic semiconductor manufacturing. Lastly, Treasury Secretary Bessent plans to increase tariffs on India due to its purchase of Russian oil, citing concerns over economic imbalances.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.