Goldman Sachs Raises Nvidia Price Target Ahead of Earnings, Highlights AI Growth
Goldman Sachs increased Nvidia's price target from $210 to $240, maintaining a buy rating with an implied 18% upside. The revision reflects Wall Street's heightened focus on Nvidia's dominance in AI infrastructure and data centers, driven by hyperscaler demand and enterprise adoption.
Analyst James Schneider noted elevated investor expectations following Nvidia's GTC developer conference and recent AI announcements. Third-quarter EPS estimates were raised to $1.28 (3% above consensus), with Q4 at $1.49 (5% above consensus).
The firm highlighted four key stock performance drivers post-earnings, including datacenter revenue growth projections revised upward by 13%. Schneider anticipates a beat-and-raise quarter, with market reaction contingent on guidance surprises.