Stifel is staying bullish on Nvidia ahead of the graphic processing unit designer’s next earnings release due out Wednesday. The firm maintained its overweight rating on the stock, while raising its price target to $212 from $202. This updated forecast implies shares could rise 19% from their Friday close. Analyst Ruben Roy pointed to “accelerating broad-based demand” for Nvidia’s GB300 platform as a tailwind for the company. “Our supply chain discussions continue to point to expectations for ramping GB300 orders into year-end even as sustained GB200 demand continues,” he wrote. “We expect a modest F2Q beat relative to consensus, as a function of prudent guidance, still-strong CapEx commentary from CSPs, de-risked China headwind with potential sales benefit, and healthily-ramping product sales with seemingly limited supply-chain disruption.” NVDA YTD mountain NVDA YTD chart Nvidia’s market leadership is also solid, Roy said. Exiting 2025, he expects a total addressable market of more than $100 billion, while in the longer term this could approach $1 trillion. He added that despite Nvidia’s strong year-to-date runup, shares still look attractive at their current prices. “We continue to believe that NVDA’s leadership positioning in AI infrastructure remains unchallenged, and we expect GB300 specifications (50% higher FP4 performance) to remain best-in-class as inference/reasoning complexity continues to increase,” the analyst wrote. “We continue to view shares as attractively valued within the context of continued AI leadership positioning.” Investors up and down Wall Street are awaiting Nvidia’s results, with many analysts bullish on the stock heading into the report. LSEG data shows that 58 of 65 analyst covering the chipmaker rate shares as buy or strong buy. Shares of Nvidia have jumped 33% this year.
