Wells Fargo Raises Nvidia Price Target on AI Growth Optimism
Wells Fargo analyst Aaron Rakers lifted Nvidia's price target to $265 from $220, maintaining a Buy rating ahead of Q3 earnings. The adjustment reflects heightened confidence in the chipmaker's AI-driven data center expansion, with fiscal 2027 revenue projections now at $301.6 billion, up from $281.7 billion.
Cloud providers' accelerated AI infrastructure investments underpin the revised outlook. Rakers highlights Nvidia's supply chain scalability and demand visibility through 2026, suggesting 2027 EPS could surpass $9. The MOVE signals institutional conviction in AI as a sustained growth catalyst for semiconductor leaders.