Citi Lifts Nvidia’s Price Target to $180

NVIDIA Corp (NVDA.O) – AI is A-OK; Stock Clears the Final Hurdle; Raising TP to $180

“NVDA reported Apr-Q results in-line and Jul-Q sales of $45B ~$1B above our preview expectations clearing the final hurdle of the China H2O ban transition quarter.

Moreover, Blackwell sales of $24B topped our $20B expectations and management maintained mid 70’s gross margins target on improving Blackwell profitability with no major tariff impact.

As such, with margins expanding thru Jan-Q, we now expect NVDA stock to break its range bound trend since mid-last year and likely make a fresh 52 week high.

We see Citi’s Silicon Valley Bus Tour next week and GTC Paris June 11-12 where we expect sovereign AI Europe announcements as positive catalysts for the stock. NVDA talked about line of sight to tens of gigawatts on AI factories including sovereign AI with 1GW ~$50B data center opportunity.

We adjust FY26/27/28 EPS flat/+9%/+5% on higher gross margins and lift TP to $180 on consistent 30x P/E. Maintain Buy.”

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