Baird and Wedbush Lift Nvidia Price Target to $300, Signaling 69% Upside
Baird and Wedbush raised Nvidia’s price target to $300 from $275 and $230 respectively, implying over 69% upside driven by reaccelerated data-center revenue growth and outperforming virtual reality segment results. Navellier notes Nvidia’s forward P/E fell from 22x to an estimated 15x after its surprise guidance upgrade.
1. Analyst Price Target Increases
On February 26, Baird reiterated its Outperform rating on Nvidia and raised its price target from $275 to $300, while Wedbush lifted its target from $230 to $300, both citing strong quarterly results and robust near-term guidance.
2. Data-Center and VR Segment Strength
Baird highlighted that Nvidia’s data-center revenue growth has nearly doubled its previous pace, and noted the company’s virtual reality offerings are outperforming industry peers, prompting model revisions to reflect these segment gains.
3. Forward Valuation Revision
Louis Navellier points out that Nvidia traded at 22 times forecasted earnings before its surprise guidance increase, with his updated forecasts suggesting the forward P/E multiple has compressed to around 15 times, enhancing the stock’s valuation appeal.