Morgan Stanley Analyst Raises Nvidia Price Target Ahead of Q3 Earnings
Nvidia's stock (NVDA) is drawing heightened attention as Wall Street braces for its third-quarter earnings report on November 19. Joseph Moore, a top-rated Morgan Stanley analyst, lifted his price target to $220 from $210, maintaining a Buy rating. He anticipates Nvidia will deliver its strongest quarterly results in recent memory, fueled by accelerating demand for its AI chips.
Consensus estimates project earnings of $1.25 per share—a 54% year-over-year increase—and revenue surging 56% to $54.79 billion. Moore highlights the Blackwell platform's transition to full production and robust early demand for the upcoming Vera Rubin architecture as key catalysts. Despite recent underperformance relative to AI peers, Morgan Stanley expects Nvidia to regain momentum.