Morgan Stanley Increases Nvidia’s Price Target to $210

Morgan Stanley analyst Joseph Moore raised on August 27, 2025, Nvidia’s price target to $210 (from $206) while maintaining a ‘Overweight’ rating.

“Just a few weeks ago consensus was $50 bn and there were fears of digestion, and now coming into the print consensus had risen to $53 bn including some China (which did not materialize in guidance).

That guidance for $7 bn of incremental revenue – the first time that a company has guided for that dollar sequential growth – without China.

That’s in just one quarter, and based on the commentary we heard from management on the call – and what we continue to hear from out checks – continues to represent undershipment of true demand.

The continued strength in Hopper is a testament to that, as compute shortages remain intense enough customers are still buying three year old Hoppers to serve some of that demand.

But much of that is appreciated by investors when it comes to the quarter, as we shared in our preview.

Direct reads to supply chain data points and expectations for China contribution created a somewhat higher bar ahead of tonight’s results.

But even including the low end of the $2-5bn of potential H20 shipments on the call could have brought guidance to $56bn, a slightly better headline number of 60% y/y growth but not really that different fundamentally.”

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