Wall Street analysts are expressing confidence in Nvidia (NVDA) to regain its mojo ahead of the AI chip leader’s earnings report next week. Nvidia stock slid along with other AI chip stocks on Thursday.
Nvidia stock has received at least four price-target hikes from research firms since Wednesday. On Friday, Morgan Stanley and Wells Fargo upped their price targets, joining Oppenheimer and Susquehanna Financial Group.
In morning trading on the stock market today, Nvidia stock initially sank. But shares then traded sideways in late morning trades, last down a fraction. On Thursday, Nvidia slumped 3.6% to close at 186.86.
Nvidia and other AI chip stocks have fallen on concerns of a bubble in artificial intelligence investments.
Wells Fargo analyst Aaron Rakers on Friday reiterated his overweight, or buy, rating on Nvidia stock and raised his price target to 265 from 220.
“We slightly increase our near-term estimates, but more notably move our fiscal 2027 and fiscal 2028 estimates higher given continued upside momentum in hyperscale capex,” Rakers said in a client note.
Rakers sees Nvidia beating consensus estimates with its fiscal third-quarter 2026 results next Wednesday.
Analysts polled by FactSet expect Nvidia to earn an adjusted $1.25 a share on sales of $54.8 billion in the quarter ended Oct. 26. That would translate to year-over-year growth of 55% in earnings and 56% in sales.
“We would expect Nvidia to again highlight strong AI momentum as we move into the era of test-time scaling (“long thinking”),” Rakers said.
Nvidia Stock Is On Four IBD Lists
Meanwhile, Morgan Stanley analyst Joseph Moore raised his price target on Nvidia stock to 220 from 210 and maintained his overweight rating.
He expects Nvidia to post the “strongest result we have seen in the last few quarters” as Blackwell processors hit full production.
Blackwell remains the AI chip of choice, he said, noting that demand for the follow-on processor, Vera Rubin, is “very strong.”
Nvidia stock is on four IBD lists: IBD 50, Stock Spotlight, Sector Leaders and Tech Leaders.
Follow Patrick Seitz on X at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
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