UBS Reiterates $235 Price Target on Nvidia
UBS analyst Timothy Arcuri reiterated on January 6, 2026, a ‘Buy’ rating and $235 price target on Nvidia.
“NVDA hosted a keynote followed by a Q&A for analysts, and we had a number of discussions with management.
Overall, we reiterate our bullish view on NVDA as we expect stock price to be driven by upwards EPS revisions for C26 and C27.
At the event, NVDA emphasized very strong demand and highlighted early stages of agentic AI and physical AI starting to contribute this year.
It more explicitly discussed Vera Rubin (now in full production and expected to ramp on track in 2H26) which is more typically launched at GTC in March.
The system-level innovation at each of the six key chips in the rack results in ~3.5x performance improvements on peak workloads.
The platform is also designed to be more modular, which should help yield/cycle time and bolster gross margin.
On the Groq deal, NVDA highlighted the on-chip memory opening some new markets where low-latency is critically important (we think of high-frequency trading), but NVDA still expects Rubin to be ~90% of compute deployed – to some degree confirming our view that Groq’s superior compiler may be the crown jewel that is truly the centerpiece of the deal.
This compiler could help to structure the data in a more predictable format and potentially allow NVDA to drive additional hardware acceleration across the entire GPU portfolio as competing hardware has begun to, in some cases, close the performance gap.
Net, we maintain our ests but still very much see an upward bias to C2026 and C2027 numbers with faster cycle times and Rubin ramp and potential resumption of China shipments (which we have previously estimated as $8-10B/Q of additional total revenue potential).
We reiterate our Buy rating and $235 PT.”
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