- Analysts have consistently raised forecasts over the past year
- TD Cowen thinks Datacentre revenues will be strong
- Average target price up from below $50 to $136.60
Analysts at US broker TD Cowen see AI (artificial intelligence) chips designer Nvidia (NVDA:NASDAQ) outstripping second quarter expectations in the latest earnings season, and have hiked their target price for the stock.
The analysts expect a significant beat and raise, driven by sustained demand for Hopper-based systems and the anticipated ramp-up of the Blackwell platforms driven by particularly strong Datacentre growth.
‘Our checks continue to point to upside in Datacentre as demand for Hopper/Blackwell-based AI systems continues to exceed supply’, they noted.
PACE OF INNOVATION
The analysts also flagged Nvidia’s relentless pace of innovation across the AI compute stack as a key factor in its continued success, with a solid product roadmap that supports growth through 2025 and beyond.
This is why TD Cowen continues to see Nvidia as a top stock pick, raising its price target to $165 from $140. That compares to an average target price of $136.60, according to Koyfin data. That average comprised of 56 analysts' price targets has soared over the past year from below $50, after Nvidia’s run of forecast beats and guidance hikes.
Not one analyst recommends selling the shares.
Q2 consensus currently stands at $0.64 of earnings per share on $28.4 billion of sales, based on Koyfin data. Nvidia will announce its Q2 to the end July on 15 August.
