Jefferies Lifts Nvidia’s Price Target to $205

Jefferies analyst Blayne Curtis raised on August 27, 2025, the price target on Nvidia to $205 (from $200) while maintaining a ‘Buy’ rating.

“October guide was in line with lowered expectations and importantly, the B300 rollout progressing smoothly, Rubin remains on track, and China licenses offer potential to add an additional $2-5B of revenue in October with upside pending demand outlook.

Networking revenue tallied $7B with broad-based strength from NVLink, Spectrum-X, and Infiniband all offering a solid tailwind for gross margins.

Broader demand outlook remains intact, underpinned by improving ROI dynamics with $3M investment in GPUs now generating up to $30M in token revenues, accelerating hyperscaler Capex, and Sovereign expected to make up $20B of revenue this year.

Everything remains sold-out across both Hopper and Blackwell, with one non-restricted customer even buying H20s.

Plenty of runway for continued growth in both Compute and Networking as situation in China continues to work itself out.”

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