On October 21, Nvidia’s stock surged over 4%, reaching a record high of $143.71 per share and marking a milestone with a market capitalization that surpassed $3.5 trillion for the first time. Wall Street analysts remain optimistic about Nvidia’s future, with many raising their price targets for the stock, driven by what they describe as “frenzied” demand for its AI graphics processing units (GPUs).
Here’s a look at the various price targets set by analysts for Nvidia:
**Bank of America: $190**
The team at Bank of America raised their target price for Nvidia from $165 to $190 last week, indicating a potential upside of 32% from its current price. If this target is met, Nvidia’s market capitalization could soar to $4.7 trillion. Analysts attribute this bullish outlook to Nvidia’s competitive advantages over peers and a “generational opportunity” presented by the AI market. They predict that the AI accelerator market will grow to $280 billion by 2027, eclipsing last year’s figure of $45 billion, with Nvidia, along with partners like Accenture and Microsoft, poised to benefit significantly from this growth.
**Goldman Sachs: $150**
Goldman Sachs has adjusted its price target for Nvidia to $150, up from $135, suggesting a further 4% increase potential. This new target implies a market cap of $3.7 trillion. Analysts at Goldman Sachs have raised their estimates following a meeting with Nvidia CEO Jensen Huang, highlighting the company’s “competitive moat,” which is built on a solid user base, innovation, and a rapidly expanding software product portfolio. They believe that Nvidia’s upcoming Blackwell technology could generate billions in revenue by integrating multiple chip lines to enhance performance at the data center level.
**CFRA Research: $160**
Angelo Zino, a senior equity strategist at CFRA, has set a new price target of $160 for Nvidia, suggesting an 11.3% potential increase in stock price and a projected market cap of $3.9 trillion. This adjustment reflects Zino’s growing confidence in Nvidia’s performance, as he anticipates that the company will exceed both market expectations and its previous results in the upcoming financial reports.
**Bernstein: $155**
After Nvidia’s earnings report in August, Bernstein raised its target price to $155, largely due to the anticipated success of Blackwell technology. Analyst Stacy Rasgon noted in an interview earlier this month that all indicators—including statements from Nvidia executives and confirmations from the supply chain—point to a skyrocketing demand for Blackwell.
As these analysts highlight their confidence in Nvidia’s growth trajectory, it seems clear that the company is well-positioned to capitalize on the expanding AI market.
