Mizuho Raises NVIDIA Price Target to $170
- Rating
- Buy
- Target
- $170
- from $168 (+1%)
- Outcome
- Reached
- on July 15, 2025
What the analyst said
Mizuho analyst Vijay Rakesh raised the price target on NVIDIA (NASDAQ: NVDA) to $170 (from $168) while maintaining an Outperform rating.
“NVDA reported a slightly better AprQ rev of $44.1B (cons. $43.3B) and guided in line JulQ to $45B BETTER than some concerns with H20 headwinds.
We note: 1) Key DC Revs inline ~$39.1B up 10% q/q (up 73% y/y), with Blackwell revs coming in at ~$24B (est of ~8k NVL72 racks); 2) Blackwell 70% of shipments, U.S. was 47% of revs, Hyperscalers at <50% of revs, with GB300 Ultra shipping in the JulQ; 3) JulQ Blackwell/GB200 ramps accelerating with CSPs standing up >1k racks/week; and 4) AprQ Networking was up 64% q/q with NVLink + SpectrumX at >$3B of revenue.
NVDA noted a $4.5B charge to inventory for H20, with $2.5B of revenues unable to be shipped, which we had noted (Link), and expected $8B revenue impact in JulQ.
Reiterate Outperform, adjust estimates/PT to $170 with China headwinds partially offsetting Blackwell ramps.”
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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 $170 target is 46% below the median, the lowest on the Street.
Since the note NVDA has moved +70% (from $135). The 12-month window closed on May 29, 2026.
Track record
This call✓ Target reached on July 15, 2025, 2 months after the note.
Firm track recordMizuho: 96% of its 27 targets at least a year old were reached within 12 months (#2 of 20 firms); on NVIDIA, 6 of 6. Accuracy ranking →
Mizuho on NVIDIA
Mizuho price targets on NVIDIA
8 calls from September 24, 2025 to August 27, 2026. The target went from $205 to $315 (+54%). The rating stayed Buy.
- August 27, 2026Target raised from $300 (+5%)Buy$315
- May 21, 2026Target raised from $275 (+9%)Buy$300
- February 26, 2026Target raised from $245 (+12%)Buy$275
- December 30, 2025Kept the $245 targetBuy$245
- November 20, 2025Target raised from $235 (+4%)Buy$245
- October 29, 2025Target raised from $225 (+4%)Buy$235
- October 13, 2025Target raised from $205 (+10%)Buy$225
- September 24, 2025Earliest call shownBuy$205
