Truist Securities Reiterates $275 PT on Nvidia

Truist Securities analyst William Stein reiterated on December 29, 2025, Nvidia’s $275 price target, while maintaining a ‘Buy’ rating on the stock.

“We believe NVDA’s tie-up with Groq (private) is designed to fortify NVDA’s competitive positioning, specifically vs. the TPU.

Recent media reports and Groq press release indicate NVDA is paying Groq $20B in return for (1) a license for NVDA to use Groq’s technology and (2) Groq’s founder, President, and other employees to join NVDA.

(We confirmed this transaction, but not the cost, with NVDA.)

We view this as a move by NVDA to bolster its competitive positioning in inference, specifically versus the TPU.

While the reported $20b cost is significant in absolute terms, it’s small relative to NVDA’s cash position and cash flow generation.

Reiterate Buy rating & $275 PT.”

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