Nvidia Price Target Raised Into Earnings, Order Book Strong

Nvidia Corporation (NASDAQ: NVDA) is drawing increased attention as its fiscal Q3 earnings report on November 19 approaches, with several analysts revising their price targets upward. These revisions highlight confidence in Nvidia's market position, particularly its dominance in the artificial intelligence sector.

Nvidia's stock trades at $184.82 during the pre-market, 5% lower over the past week, but this pullback belies the underlying optimism reflected in analyst forecasts. The anticipation surrounding the Q3 earnings report is palpable, as markets assess Nvidia's capacity to sustain its growth trajectory.

A wave of positive revisions from top financial firms underscores the bullish sentiment surrounding Nvidia. The stock is up 34.91% YTD, and analysts see further upside driven by the company's central role in the AI revolution.

Stifel increased its price target for Nvidia to $250 from $212, reiterating a Buy rating. The firm's revised estimates reflect Nvidia's positioning as a pivotal player in AI infrastructure. CEO Jensen Huang's recent keynote emphasized this, outlining a cumulative order book exceeding $500 billion for Blackwell and Rubin infrastructure spanning 2025 and 2026. Stifel believes the demand for AI computing will continue to increase, positioning Nvidia as a primary beneficiary.

Morgan Stanley also signaled optimism, raising its price target to $220 from $210, while maintaining a Buy rating. The firm anticipates Nvidia will deliver robust results, fueled by accelerating demand and the full production of the Blackwell platform. Wells Fargo adopted an even more bullish stance, elevating its price target to $265 from $220, citing Nvidia's ability to meet growing chip demand and clear visibility into customer orders through 2026 and beyond.

Oppenheimer's analysis mirrors this positive sentiment, with a price target increase to $265 from $225, coupled with an Outperform rating. The firm expects Nvidia to surpass both Q3 and Q4 expectations, driven by strong demand for AI chips and substantial orders exceeding supply. Rosenblatt raised its price target for Nvidia to $215 from $200, highlighting Nvidia's quarterly performance, including the scaling of Grace Blackwell-based racks, and expressing optimism about the company's demand outlook.

Citi's analyst, Atif Malik, increased Nvidia's price target to $220 from $210, anticipating strong third-quarter results and higher guidance, supported by surging AI-related demand and Nvidia's dominant position in the GPU market.

Price Targets

$500 Billion Order Book Signals Future Growth

Nvidia's CEO Jensen Huang revealed the company has approximately $500 billion in combined orders for 2025 and 2026. This substantial order pipeline indicates a stronger path for 2026 than previously forecasted, suggesting clear upside to current consensus estimates. This order book covers the current Blackwell chips, upcoming Rubin chips, and related components.

The consensus among analysts suggests Nvidia is well-positioned to capitalize on the increasing demand for AI infrastructure. The company's ability to secure substantial orders and meet production demands will be critical in sustaining its growth. The market's reaction to the Q3 earnings report will likely hinge on whether Nvidia can meet or exceed these heightened expectations.

With a slew of analyst upgrades and a massive $500 billion order book, Nvidia heads into its Q3 earnings with significant momentum. The market has priced in substantial growth, driven by the company's commanding lead in the AI hardware space. While the outlook is overwhelmingly positive, markets are pulling back from highs in recent sessions, awaiting those all important results as fears of an AI bubble continue to be raised.