Citi Analyst Raises Nvidia Price Target Ahead of Q3 Earnings
Citi analyst Atif Malik increased Nvidia's price target to $220 from $210, maintaining a Buy rating ahead of the company's Q3 FY26 results. Malik anticipates a revenue beat at $56.8 billion, surpassing consensus estimates of $54.6 billion, with Q4 guidance expected to reach $62.6 billion.
Nvidia's current P/E multiple of 28x appears attractive compared to AI peers Broadcom and AMD, trading at 38x and 37x respectively. Wall Street projects a 54.3% YoY EPS growth to $1.25 and 56% revenue increase to $54.62 billion for the quarter.
The bullish outlook follows Nvidia's announcement of shipping 6 million Blackwell architecture units, prompting Malik to revise October-quarter estimates upward by 11%.