Piper Sandler Reiterates Overweight on NVIDIA, $225 PT

Piper Sandler analyst Harsh Kumar reiterated on October 14, 2025, a ‘Overweight’ rating and $225 price target on Nvidia.

“Last week, we spoke with NVDA regarding the current business environment and recent investment implications.

Business conditions for NVDA remain robust, with demand still outstripping manufacturing capacity and supply.

In our view, funding provided by NVDA to various customers such as OpenAI and CoreWeave is insulated from circular financing concerns.

The China business still remains constrained, with pressure from the Chinese government weighing on customers, although some licenses have been granted.

We are aware that Q3 guidance did not include any H20 revenue, but believe NVDA is wellpositioned to meet street expectations.”

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