Wedbush Raises Price Target on Nvidia to $230
Wedbush analyst Matt Bryson raised the price target on Nvidia to $230 (from $210), while maintaining an ‘Outperform’ rating on the stock.
“We are reiterating our OUTPERFORM on NVDA and lifting our PT from $210 to $230.
We believe results ($57B) and guidance ($65B and 75% GMs) matched buy side hopes. And NVDA’s reiteration of its previously targeted $500B in Blackwell/ Rubin revenues by end of CY’26 (with 75% GMs expected to hold through FY’27), again suggests upside vs. our/Street consensus numbers (particularly with management’s commentary implying probable upside to this number).
Nvidia indicated certain new deals weren’t anticipated in their projection for $500B in Blackwell/Rubin sales by end of CY’26.
Our model (despite being revised meaningfully higher) implies data center sales a touch below the $0.5 trillion estimate, suggesting room for further upward revisions should NVDA continue to close previously unanticipated deals.
While, increasing component and material costs are a concern for our entire hardware coverage, we view NVDA as positioned to sidestep any headwinds, an opinion we see as validated by management’s comments.”
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