After Nvidia (NVDA) reported record quarterly revenue driven by gains in its data center sales and raised expectations for its Blackwell artificial intelligence (AI) chips, several analysts boosted their price targets for the chipmaker’s stock.
Wedbush analysts lifted their price target to $175 from $160, implying about 21% upside from Thursday’s intraday price, pointing to strong demand for Nvidia’s AI chips and signs production of its next-generation Blackwell chip is “ramping at least as fast as expected.”
On the company’s earnings call, CEO Jensen Huang said Nvidia is on track to ship more Blackwell chips than previously anticipated in the current quarter, which runs through January. Analysts at Mizuho raised their price target to $175 from $165 after the call, projecting up to $5 billion in Blackwell revenue in the period.
Nvidia also appeared to dismiss worries surrounding reported Blackwell issues with overheating, which “should alleviate any lingering investor concerns around Blackwell execution,” …