Oppenheimer NVIDIA · NVDA

Oppenheimer Affirms Outperform on NVIDIA, $200 Price Target

Analyst: Rick Schafer 1 min read Reproduced verbatim
Rating
Outperform
Unchanged
Target
$200
Outcome
Reached
on October 28, 2025
Oppenheimer and NVIDIA logos

What the analyst said

Oppenheimer analyst Rick Schafer reiterated an Outperform rating and $200 price target on NVIDIA (NASDAQ: NVDA)

“NVDA reports Wednesday (8/27). We see upside to consensus F2Q (July) sales/EPS $45.8B/$1.00 and F3Q (Oct) $52.8B/$1.19. NVL72 rack-scale in full ramp w/CSPs.

Top four hyperscalers ’25 capex raised to $365B, +64% (from previous $325B, +46%). Momentum building in enterprise, neocloud, and sovereign as well.

China <5% of sales in our model, post April China H20 ban. We estimate H20 backlog >$16B in April when the surprise ban took effect.

NVDA recently received export license for H20 GPUs, paying Uncle Sam 15% of sales – an amount we expect to be offset by price hikes. Mgmt. sizes China AI TAM at $50B.

We see GM holding mid-70%s for the foreseeable. 3Q GB300 (Ultra) refresh expected to be smooth.

NVDA remains best positioned to win in AI. Reiterate Outperform and $200 target.”

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This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.

Where the price stands

NVDA trades at $187. The 27 analysts who set a target in the last 3 months range from $270 to $515, with a median of $315. This $200 target is 37% below the median, the lowest on the Street.

Since the note NVDA has moved +6% (from $175). The 12-month window closed on August 21, 2026.

Track record

This call✓ Target reached on October 28, 2025, 3 months after the note. Same target as this firm’s July 15, 2025 note, so it is scored there.

Firm track recordOppenheimer: 64% of its 14 targets at least a year old were reached within 12 months; on NVIDIA, 3 of 3. Accuracy ranking →

Oppenheimer on NVIDIA

Oppenheimer price targets on NVIDIA

5 calls from August 28, 2025 to August 27, 2026. The target went from $225 to $315 (+40%). The rating stayed Buy.

Oppenheimer targetNVDA share price
  1. August 27, 2026Target raised from $265 (+19%)Buy$315
  2. August 20, 2026Kept the $265 targetBuy$265
  3. May 12, 2026Kept the $265 targetBuy$265
  4. November 13, 2025Target raised from $225 (+18%)Buy$265
  5. August 28, 2025Earliest call shownBuy$225
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Other analysts on NVIDIA

Goldman SachsBuy Kept rating and price target Oct 21 $300maintained UBSBuy Kept rating and price target Oct 9 $300maintained Yorkville IvesBuy Initiated coverage Oct 7 $300 CantorBuy Kept rating and price target Oct 5 $350maintained CantorBuy Kept rating and price target Oct 1 $350maintained
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.