Deutsche Bank Raises NVIDIA Price Target to $215

Deutsche Bank analyst Ross Seymore raised the price target on NVIDIA (NASDAQ: NVDA) to $215 (from $180) while maintaining a Hold rating.

“NVDA delivered its typically impressive beat/raise in its F3Q/F4Q report/guide, albeit with the quality of the upside rising as Data Center led the growth (GB300 > GB200) vs Gaming leading the surprises in F1Q/2Q.

The company expressed significant confidence in its future DC segment growth, with the recent plethora of announcements (CSPs, Sovereigns, Hyperscalers, NeoCloud, and more) replacing any China-dependent optimism and leading to visibility for ~$500b in cumulative revenue (Blackwell and Ruben) from the start of CY25 through the end of CY26 (DBe ~$350b cumulative remaining, with Rubin on track to ramp in 2H26).

On the margin front, NVDA delivered on its promise to return to ~75% GM and impressively stated it expects to maintain this level in FY27.

Reflecting these positive dynamics, our rev/EPS ests rise by ~low-double digit % for CY26/27, with PF EPS now at $7.45 and $9.25, respectively.

We remain very impressed with NVDA’s continued leadership in AI compute, networking, software and systems capabilities, with the gap vs peers appearing more likely to expand than contract.

While we expect a positive reaction to tonight’s print/guide, and expect NVDA shares to have a positive bias thereafter, we continue to see the shares as fairly valued with our $215 P/T implying a ~23x P/E on CY27 ests that already embed ~85% revenue growth over the next two years.”

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