BofA Securities Maintains Buy on NVIDIA, $190 Price Target

January 9, 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)

“On Tuesday, we hosted NVDA CFO Colette Kress, IR Stewart Stecker and Andrew Nguyen for a well-attended investor dinner in Las Vegas, following yesterday’s CEO keynote.

Big-picture wise we feel more confident in: 1) NVDA as AI incubator: NVDA’s unique/highly leverageable silicon/system/software platform is spawning new growth engines in physical AI/robotics, on-premise AI workstations (Project Digits), AI PC, autonomous driving (Uber, Toyota partnership) – no other merchant or ASIC rival can match this, and 2) Early in $2Tn infrastructure opportunity: only in the first 20-25% of transforming $1Tn in traditional to accelerated architecture, with another $1Tn opportunity to support new gen-AI biz models.

Near-term, the stock could stay volatile until Q4 earnings (Feb-26) due to potential for enhanced China restrictions (low-mid single digit % sales impact, though offset by stronger demand elsewhere), and transition impact from Hopper to new Blackwell products.

The next big catalyst will be flagship GTC conference starting Mar 17th. Reiterate Buy on NVDA, our top sector pick.”

Disclaimer
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Where the price stands

This target$190Median$315Highest$515Today$214At the note$140

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 +53% (from $140). The 12-month window closed on January 9, 2026.

Track record

This call✓ Target reached on October 9, 2025, 9 months after the note. Same target as this firm’s January 2, 2025 note, so it is scored there.

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 →