Aug 7 – Nvidia (NASDAQ:NVDA) shares rose about 2% Thursday after several major Wall Street firms raised their price targets ahead of the chipmaker’s second-quarter earnings, set for Aug. 27.
Analysts from Morgan Stanley (NYSE:MS), Bank of America (NYSE:BAC) and Goldman Sachs (NYSE:GS) pointed to strong demand for artificial intelligence infrastructure and Nvidia’s Blackwell platform as key drivers of potential growth. Morgan Stanley now sees shares reaching $200, up from $170.
Bank of America reaffirmed its Buy rating and maintained a $220 target, while Goldman Sachs lifted its target to $200, citing expectations for a beat-and-raise quarter. Analysts flagged investor focus on Blackwell’s chip ramp, margin expansion potential, and China’s H20 chip rollout.
Estimates compiled by FactSet suggest Nvidia will post earnings of $1 per share on $45.7 billion in revenue. The stock is up nearly 34% year to date.
Nvidia also inched up 1% in premarket trading as optimism builds heading into the earnings call.
This article first appeared on GuruFocus.