Wolfe Research Hikes Nvidia’s Price Target to $230

Wolfe Research analyst Chris Caso raised on August 28, 2025, the price target on Nvidia to $230 (from $220) while maintaining a ‘Outperform’ rating.

“Maintain Outperform rating, increasing PT to $230.

Our $230 price target is based on ~37x our $6.20 CY26 EPS, largely in line with NVDA’s ~36x avg multiple over the last five years.

NVDA reported F2Q/F3Q slightly above Street, with China revenue still not included in the company’s outlook.

While geopolitical challenges persist, AI revenue growth in all other areas is growing strongly, and rack production at partners continues to accelerate.

Our FY26/ FY27 numbers move modestly higher on the report, with ~$152bn/~$208bn in datacenter GPU revenue, respectively, driving $4.48/$6.20 in EPS.

With the stock at just ~29x our FY27 EPS, NVDA remains our favorite AI stock.”

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.