Analysts Bullish on Nvidia as Stock Surges Ahead of Q3 Earnings

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15/11/2024 18h27

**Nvidia's Stock Soars as Analysts Increase Price Targets Ahead of Q3 Earnings**

Wall Street analysts are raising their price targets for Nvidia, the semiconductor behemoth, as anticipation builds for its Q3 earnings report set for November 20. Nvidia, which has already achieved a staggering 203.57% gain year-to-date, recently saw its stock climb an additional 7.74%, bringing the price to $143.1.

Nvidia is forecasted to announce revenues of $32.5 billion for Q3 2025, stoking further optimism among investors. The company's robust performance in the artificial intelligence sector has led several leading analysts to boost their price targets ahead of the earnings report.

HSBC's Frank Lee has been the most bullish, elevating his target from $145 to $200, reflecting a potential 36.78% upside. His confidence is largely driven by Nvidia's expanding data center operations. Similarly, Christopher Rolland of Susquehanna has adjusted his target to $180, highlighting the strong demand for Nvidia's H100 and H200 chips.

Other analysts have followed suit. Rich Schafer from Oppenheimer increased his target to $175. On the other hand, Raymond James' Srini Pajjuri revised his target to $170, underscoring that any dip in Nvidia's stock should be seen as a buying opportunity.

Matt Bryson from Wedbush has also joined the ranks, setting his target at $160 based on more optimistic revenue estimates. With targets now ranging from $160 to $200, Nvidia remains a dominant force in the AI-driven semiconductor industry. However, experts warn that its high price-to-earnings ratio and overall market unpredictability require careful observation.

The views expressed in this article do not reflect the opinion of ICARO, or any of its affiliates.

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