Piper Sandler Raises Nvidia’s Price Target to $225

Piper Sandler analyst Harsh Kumar raised on August 13, 2025, the price target on Nvidia to $225 (from $180) while maintaining an ‘Overweight’ rating on the stock.

“We are expecting another positive quarter from NVDA and see upside to numbers for both the July and October quarters.

While we are modeling largely in-line for the July quarter and slightly below Street for October, we are calling for upside given the recent positive commentary from U.S. hyperscalers as well as the inclusion of revenues from China.

We note that our estimates and Street estimates do not reflect the inclusion of China business as we are anticipating revenues to start coming in towards the end of this month.

China demand in our view could amount to ~$6B in sales for the October quarter and further ramp from there at a ~12-15% growth rate moving forward in a normal quarter.

Finally, we are encouraged by hyperscaler commentary around capex plans for 2H and 2026 which should continue to pressure NVDA to meet this demand.

We reiterate OW. PT to $225.”

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