Nvidia rises as Wall Street keeps upping price targets ahead of earnings

Nvidia (NASDAQ:NVDA) was in focus on Thursday as several Wall Street firms upped their price targets on the semiconductor giant ahead of its fiscal third-quarter results, set to be released on November 20 after the close of trading.

Shares rose 1% in premarket trading.

HSBC analyst Frank Lee upped his price target to a Wall Street high of $200 from $145, as he believes there is more upside to the company’s data center momentum. He expects third-quarter results and guidance to top consensus, as “the AI train is back on track.”

Oppenheimer analyst Rick Schafer also upped his price target (to $175 from $150) and reiterated his Outperform rating, as he also believes there is upside to the results and guidance. “Blackwell ramp begins F4Q and should contribute low-mid-single digit $Bs in the Q,” Schafer wrote. “Blackwell supply remains constrained by [chip-on-wafer-on-substrate-L] capacity. We see meaningful acceleration in Blackwell F1Q (Apr). Conversations w/investors suggest buyside modeling 5-6M GPUs next year.”

Susquehanna, Wedbush Securities and Raymond James also moved their price targets higher, to $180, $160 and $170, respectively.

Nvidia is set to report quarterly results after the close of trading on November 20. A consensus of analysts expect the company will earn $0.74 per share on $32.93B in revenue.