Nvidia Stock Forecast: Bank of America Sees ’Compelling’ Valuation Ahead of Q3 Earnings
Semiconductor giant Nvidia faces high expectations as it prepares to report third-quarter earnings on November 19. Bank of America analyst Vivek Arya maintains a Buy rating with a $275 price target, citing a valuation of 27x and 21x calendar year 2026 and 2027 estimates as "compelling." The revised target reflects a shift to 30x 2027 earnings estimates, extending the valuation horizon.
Wall Street anticipates a 54.3% year-over-year increase in earnings per share to $1.25, with revenue projected to rise 56.3% to $54.83 billion. Arya highlights Nvidia's recent $500 billion Blackwell and Rubin order backlog as a key driver, though concerns linger over AI capital expenditure trends.