Wall Street analyst updates Nvidia stock price ahead of Q3 earnings

Group 1 - Citi has raised its price target on Nvidia to $220 from $210 while maintaining a 'Buy' rating, anticipating strong Q3 results and higher guidance due to surging AI-related demand, implying a potential 13% upside from the current stock value of around $195 [1] - Nvidia's Q3 revenue is projected to reach $57 billion, exceeding Wall Street's forecast of about $55 billion, with Q4 sales expected at roughly $62 billion, topping the $61 billion consensus, driven by strong GPU shipments [3] - Nvidia reportedly delivered six million GPU units, indicating persistent demand from hyperscale data centers [3] Group 2 - Rising global AI capital expenditures could lift Nvidia's earnings per share by 2% to 8% between fiscal years 2026 and 2028, with a revised forecast valuing Nvidia at 30x its calendar year 2026 earnings per share estimate of $7.24 [4] - Wolfe Research projects around $300 billion in revenue from Nvidia's Blackwell and Rubin chips by 2026, about 20% above earlier forecasts, with expected earnings per share of around $8 for 2026 [5] - A potential reintroduction of a China-focused GPU could further boost sales, with data center revenue possibly exceeding forecasts by up to $85 billion [6] Group 3 - Bank of America reiterated its 'Buy' rating, highlighting Nvidia's $500 billion in data center orders for 2025–26 as evidence of sustained AI demand [6] - Current skepticism around AI spending and U.S. restrictions on China is argued to be overstated and largely irrelevant to Nvidia's near- and medium-term financial performance [7]