Evercore ISI Raises NVIDIA Price Target to $225
- Rating
- Buy
- Target
- $225
- from $214 (+5%)
- Outcome
- Reached
- on May 13, 2026
What the analyst said
Evercore ISI analyst Mark Lipacis raised the price target on NVIDIA (NASDAQ: NVDA) to $225 (from $214) while maintaining an Outperform rating.
“Post our callback with NVDA’s CFO regarding the OpenAI deal, we came away with further confidence that NVDA remains the AI ecosystem play of choice and that Street estimates are too low – Reiterate NVDA as a top pick.
Key takes from the callback: NVDA is the preferred supplier to OpenAI, as OpenAI has underestimated demand for its solution and wants to get ahead of demand going forward, and NVDA is uniquely positioned as the scale solution provider that could help OpenAI with this infrastructure buildout.
The deal is for at least 10GW of AI infrastructure, and mgmt. confirmed that historically, NVDA’s TAM was $30bn-$40bn per GW, although going forward it could be higher.
The deal would include GPUs, racks, networking and software. The OpenAI deal is additive to what NVDA was expecting before We Estimate $5.5bn in Additional Revs for NVDA in 2HCY26.
The company would not give details about the pace and duration of the ramp. We increase our 2H26 revenue estimate by $5.5bn, using Colossus, Prometheus and Project Rainier as benchmarks”
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Where the price stands
NVDA trades at $229. The 27 analysts who set a target in the last 3 months range from $270 to $515, with a median of $315. This $225 target is 29% below the median, the lowest on the Street.
Since the note NVDA has moved +25% (from $184). The 12-month window closed on September 23, 2026.
Track record
This call✓ Target reached on May 13, 2026, 8 months after the note.
Firm track recordEvercore: 100% of its 6 targets at least a year old were reached within 12 months (#1 of 20 firms); on NVIDIA, 4 of 4. Accuracy ranking →
Evercore on NVIDIA
Evercore price targets on NVIDIA
8 calls from August 22, 2025 to May 19, 2026. The target went from $214 to $352 (+64%). The rating stayed Buy.
- May 19, 2026Kept the $352 targetBuy$352
- March 17, 2026Kept the $352 targetBuy$352
- January 6, 2026Kept the $352 targetBuy$352
- November 20, 2025Target raised from $261 (+35%)Buy$352
- November 14, 2025Kept the $261 targetBuy$261
- October 29, 2025Target raised from $225 (+16%)Buy$261
- September 23, 2025 This noteTarget raised from $214 (+5%)Buy$225
- August 22, 2025Earliest call shownBuy$214
