BofA Securities Reiterates Buy on NVIDIA, $190 Price Target

January 2, 2025 Analyst: Vivek Arya 1 min read Reproduced verbatim

Rating: Buy; Unchanged
Target: $190
Outcome: Reached; on October 9, 2025

What the analyst said

BofA Securities analyst Vivek Arya reiterated a Buy rating and $190 price target on NVIDIA (NASDAQ: NVDA)

“Reiterate Buy on our sector top pick, NVDA, ahead of CES tradeshow that starts Jan-6 with keynote and other events featuring NVDA CEO.

While the big themes have already been mentioned in the media ahead of the event, we still see CES as a positive catalyst, re-asserting NVDA’s platform dominance/opportunity in high-growth markets.

Specifically, we look for updates on: 1) Robotics strategy (Jetson Thor) from silicon to software and emergence of ‘physical AI’ theme, 2) Launch of RTX 50xx, Blackwell variants of PC gaming cards with enhanced ‘neural rendering’ and faster GDDR7 memory, 3) Potential entry into AI PC likely via partnership or (small) chance of standalone PC CPU, and 4) Update on data center incl. current-gen Blackwell (GB200, B200), 2H upgraded variants (GB300, B300 – more memory (288GB using 12 stack High HBM 3E) for more accurate AI inference) and teaser on next-gen Rubin (CY26E).”

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Where the price stands

This target$190Median$315Highest$515Today$214At the note$134

NVDA trades at $214. The 27 analysts who set a target in the last 3 months range from $270 to $515, with a median of $315. This $190 target is 40% below the median, the lowest on the Street.

Since the note NVDA has moved +59% (from $134). The 12-month window closed on January 2, 2026.

Track record

This call✓ Target reached on October 9, 2025, 9 months after the note.

Firm track recordBank of America: 85% of its 27 targets at least a year old were reached within 12 months (#14 of 28 firms); on NVIDIA, 6 of 6. Accuracy ranking →