Several Wall Street analysts have increased their price target for Nvidia (NVDA) stock ahead of the semiconductor giant’s results for the second quarter of Fiscal 2026 on August 27. Mark Lipacis, a top-rated analyst from Evercore, boosted his price target for Nvidia stock from $190 to $214 (20% upside potential) and reiterated a Buy rating, citing its “attractive valuation.” NVDA stock has risen more than 32% year-to-date, as the company is witnessing solid demand for its graphics processing units (GPUs) amid the ongoing artificial intelligence (AI) boom.
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Top Evercore Analyst Is Bullish on Nvidia Stock
Lipacis highlighted that Nvidia stock is trading at a next 12 months (NTM) price-to-earnings (P/E) ratio of 33x, below the 8-year median of 36x, and only 6% above Advanced Micro Devices’ (AMD) P/E multiple of 31x and 10% below Broadcom’s (AVGO) ratio of 37x. He expects NVDA’s earnings per share (EPS) to grow by 48% in 2025 and 39% in 2026, which reflects a price-to-earnings growth (PEG) ratio well below parity, making it an attractive pick.
Commenting on the debate around the stock reaching a 14% weighting in the S&P 500 (SPX), Lipacis stated that at an 8% weighting in the index, he notes investors’ concern that NVDA can’t capture a higher weighting as there is no precedent.
However, Lipacis highlighted that the PC and networking ecosystems of Intel (INTC), Microsoft (MSFT), Dell (DELL), and Cisco (CSCO) captured a 14% weighting at their peak, and for NVDA, which is offering a vertically integrated chip/software/hardware/networking ecosystem, the analyst thinks that “this is the precedent to benchmark NVDA against.”
Lipacis ranks 39 out of more than 9,900 analysts on TipRanks. He has a success rate of 66% with an average return of 24.6% over a one-year period.
Aside from Lipacis, Wedbush analyst Matt Bryson also raised his price target for NVDA stock heading into Q2 FY26 earnings. Bryson reaffirmed a Buy rating and increased the price target from $175 to $210, citing several positives, including surging hyperscale AI spending.
Is NVDA Stock a Strong Buy?
Despite the ongoing uncertainties related to H20 chip sales to China, Wall Street remains bullish on Nvidia stock based on solid demand for its AI chips.
Ahead of the Q2 earnings, Nvidia stock scores a Strong Buy consensus rating based on 35 Buys, three Holds, and one Sell recommendation. Wall Street expects NVDA to report a 48% year-over-year growth in Q2 FY26 EPS to $1.01 and about a 53% jump in revenue to about $45.9 billion.
The average NVDA stock price target of $198.57 indicates 11.5% upside potential from current levels.
