BofA Securities Raises NVIDIA Price Target to $275

BofA Securities analyst Vivek Arya raised the price target on NVIDIA (NASDAQ: NVDA) to $275 (from $235) while maintaining a Buy rating.

“We hosted a very positive meeting with NVDA CFO Colette Kress and members of the IR team, following the CEO keynote, at NVDA’s GTC trade show in Washington DC earlier today.

The CFO meeting and the keynote enhance our confidence in NVDA’s: 1) Solid visibility (CY25/26 backed by $0.5Tn+ in orders at conservative $25bn/GW vs. potential for $30bn+ content), 2) Strong alignment with supply chain including multiple memory suppliers, 3) Zero China expectations, any resolution to trade issues incremental, 4) Confidence in maintaining leadership against ASIC and GPU rivals, which have no experience (yet) of standing racks while NVDA already in second-gen (GB300), and 5) Multi-year pipeline (Rubin on track for 2H26E) that continues to drive leverage in new markets (Nokia 6G, Uber self-driving cars, industrial twins, robotics).

Meanwhile we think valuation at 32x/25x CY26E/27E PE remains compelling given it represents <1x earnings growth rate (PEG ratio) versus broader Mag-7 and growth peers at >2x.

Raise PO to $275 from $235 on higher 44x CY26E PE (vs.

37x before), though represents 35x PE on the ~$8 in EPS power outlined by NVDA earlier (see our initial GTC takeaways report), inline with historical multiples.”

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