TD Cowen Lowers NVIDIA Price Target to $140
- Rating
- Buy
- Target
- $140
- from $175 (−20%)
- Outcome
- Reached
- on June 3, 2025
What the analyst said
TD Cowen analyst Joshua Buchalter lowered the price target on NVIDIA (NASDAQ: NVDA) to $140 (from $175) while maintaining a Buy rating.
“For NVIDIA, Blackwell is now the driver of fundamentals in both AprQ and JulQ, with initial production volumes of GB200-based NVL72 racks to serve as a further tailwind to revenue.
Questions will focus on how effectively NVIDIA’s customers are able to stand up and deploy these extremely complex rack-level systems and how customers are thinking about the bridge between Blackwell and Blackwell Ultra.
NVIDIA Remains Our Top Pick in Compute, Though We See Value in Many for Those Willing to Catch a Falling Knife: Overall, our strongest conviction in the compute bucket both near and long-term remains NVIDIA given its tech leadership—a sharp contrast to its now ~15- turn discount its historical median.”
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Where the price stands
NVDA trades at $229. The 27 analysts who set a target in the last 3 months range from $270 to $515, with a median of $315. This $140 target is 56% below the median, the lowest on the Street.
Since the note NVDA has moved +138% (from $96.30). The 12-month window closed on April 9, 2026.
Track record
This call✓ Target reached on June 3, 2025, 2 months after the note.
Firm track recordTD Cowen: 83% of its 18 targets at least a year old were reached within 12 months (#10 of 20 firms); on NVIDIA, 4 of 4. Accuracy ranking →
TD Cowen on NVIDIA
TD Cowen price targets on NVIDIA
8 calls from November 20, 2025 to August 27, 2026. The target went from $235 to $275 (+17%). The rating stayed Buy.
- August 27, 2026Kept the $275 targetBuy$275
- August 18, 2026Kept the $275 targetBuy$275
- July 9, 2026Kept the $275 targetBuy$275
- May 21, 2026Kept the $275 targetBuy$275
- May 15, 2026Target raised from $235 (+17%)Buy$275
- March 17, 2026Kept the $235 targetBuy$235
- February 26, 2026Kept the $235 targetBuy$235
- November 20, 2025Earliest call shownBuy$235
