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Analysts expect another strong earnings report from Nvidia, lift stock targets

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Analysts expect another strong earnings report from Nvidia, lift stock targets

) is set to report its latest earnings results next week, and Deutsche Bank analysts expect the chipmaker to continue its trend of posting strong multi-billion dollar beats and raise, driven by robust demand for AI compute.

“Overall, we remain impressed by NVDAs best-in-class technology roadmap and believe AI fervor by its customers is likely to be sustained, yielding yet another strong quarter/ guide,” they wrote. Therefore, the investment bank considers NVDA shares “fully valued,” reiterating a Hold rating ahead of the report.

As a result, Wells Fargo raised their Nvidia forward estimates and lifted the target price from $970 to $1,150, implying more than 27% upside from the last closing price.

 

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