Three top Wall Street analysts stay bullish on Nvidia stock. Here’s why

chip giant Nvidia (NVDA) is considered one of the key beneficiaries of the AI ​​boom, thanks to strong demand for advanced graphics processing units (GPUs).

The stock has been under pressure lately due to concerns about the valuation of AI plays and growing competition in the AI ​​chip space from rivals such as Broadcom (AVGO), Advanced Micro Devices (AMD) and Alphabet-owned Google’s tensor processing units (TPUs). Nvidia also faces uncertainty about chip exports to China amid geopolitical tensions between Washington and Beijing.

Despite ongoing pressure, many best analysts Nvidia remains bullish for several reasons, including its solid track record, strong execution, ongoing innovation, and dominant position in the AI ​​GPU market. TipRanks’ AI Analyst he also has an “outperform” rating on NVDA shares with a $205 price target.

Let’s look at the opinions of three Wall Street pros who are optimistic about Nvidia’s growth potential.

Following a virtual meeting with Bank of America analyst Toshiya Hari, Nvidia’s vice president of investor relations. Vivek Arya Reiterates buy rating on NVDA shares price estimate $275He says he continues to see it as the best choice.

Among the key takeaways, Arya noted that while Nvidia acknowledged that Gemini 3 was the best large language model (LLM) trained on Google’s in-house TPU, the company suggested it was too early to declare a clear winner. Specifically, the company emphasized that the current GPU-based Masters are all trained on the legacy Hopper (2022) architecture and are not comparable to future Masters that will be trained on NVDA’s Blackwell (2024) GPUs.

Arya emphasized that management is confident about the expected launch of Blackwell-backed LLMs in early 2026; which will prove that they are “at least a generation ahead of the competition.” In fact, external benchmarks like MLPerf and InferenceMAX rank Blackwell as the clear leader in both training and inference; Nvidia, on the other hand, stands out in terms of key metrics such as coins per watt and revenue per coin.

The five-star analyst added that Nvidia continues to have demand and supply visibility of at least a $500 billion revenue opportunity for calendar years 2025-2026 for Blackwell, Rubin and networking. Interestingly, recent deals with ChatGPT maker OpenAI and Anthropic/Microsoft are incremental above this $500 billion outlook (as they are letters of intent) and represent potential upside.

Overall, the meeting strengthened Arya’s bullish thesis and the analyst found the valuation of NVDA shares attractive. Specifically, price-to-earnings (P/E) multiples of 25x and 19x for 2026 and 2027 earnings, respectively, imply a PEG ratio of just 0.5x. That compares with an average of 2x for Magnificent Seven shares and growth rivals.

Arya is ranked #270 out of more than 10,100 analysts followed by TipRanks. Their ratings were profitable 58% of the time, with an average return of 17.7%.

Bernstein analyst Stacy Rasgon He’s also optimistic about Nvidia’s prospects and has a buy rating on the semiconductor shares with a $275 price target. In his latest note to investors, the analyst discussed some interesting takeaways from his virtual investor meeting with Nvidia’s senior director of investor relations Stewart Stecker.

Rasgon noted in October that Blackwell, Rubin and the $500 billion cumulative outlook for network sales announced for calendar years 2025 and 2026 will likely see an uptick because it does not include new deals like Anthropic, the OpenAI 10 GW collaboration and partnerships in the Middle East.

On concerns about competition from Google’s in-house chips, Rasgon noted that although Nvidia acknowledged the progress Google has made over 10 years, the company believes the search engine giant is about two years ahead of its TPU schedule.

Nvidia argues that, given the burgeoning AI market, it will be difficult for Google to persuade cloud service providers to distribute TPUs designed for specific model builds. “But they believe NVIDIA’s programmable platform solutions remain the best hardware for cloud AI infrastructure,” Rasgon said.

Regarding President Donald Trump’s recent post about allowing Nvidia to ship H200 AI chips to China, subject to a 25% cut of the amount going to the US, Rasgon noted that Nvidia is still waiting to receive a license to ship H200s, then plans to review RFPs and begin production. Moreover, Nvidia has not yet been able to obtain any details regarding its 25 percent revenue share with the US government, and it is currently unclear how this fee will be calculated.

Rasgon is ranked #144 out of more than 10,100 analysts followed by TipRanks. It did well in the ratings 67% of the time and delivered an average return of 27.3%.

Jefferies analyst in a research note on 2026 outlook for semiconductors Blayne Curtis He reaffirmed his buy rating on Nvidia shares with a $250 price target. Curtis called Broadcom (AVGO) a top pick, citing the ASIC (application-specific integrated circuits) change and top estimate revisions expected for the company in the semiconductor group. However, Nvidia remains bullish.

“We haven’t given up on NVDA given its tech moat and 18x valuation of the $10 EPS bogey,” Curtis said.

The five-star analyst argues that ASIC adoption is still in its early stages, giving Nvidia plenty of room to grow in the face of strong spending. He thinks any ongoing concerns about NVDA are overblown, given that Blackwell Ultra’s launch is on track and Rubin is set to ramp up in the second half of 2026.

Additionally, Curtis noted Nvidia’s dominance in the AI ​​chip space and expects the company’s launch of Vera-Rubin and NVLink 6 in the second half of 2026 to strengthen its position. He expects Blackwell-backed LLMs to be introduced in the first half of 2026 and serve as a potential catalyst for NVDA shares.

Curtis also expects Nvidia’s launch of its new CPX chip in the second half of 2026 to benefit from hyperscalers’ higher capital expenditures and increased focus on inferences. The analyst currently expects CPX to generate $13 billion in revenue in calendar year 2027. Based on all these positives, Curtis raised his 2026 and 2027 earnings per share (EPS) estimates for Nvidia from $6.83 and $9.03 to $7.82 and $9.50, respectively.

Curtis is ranked #58 out of more than 10,100 analysts tracked by TipRanks. Their ratings were profitable 64% of the time, with an average return of 27.8%.