Nvidia price target raised to $165 from $150 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Nvidia (NVDA) to $165 from $150 and keeps a Buy rating on the shares. The company beat Street expectations in Q3 as strength in data center compute more than offset what was a surprising sequential decline in data center networking, the analyst tells investors in a research note. The firm says that although Nvidia’s Q4 revenue outlook only met Street expectations and management pointed to near-term gross margin headwinds related to Blackwell that are likely to persist through the April quarter, it expects growing demand for artificial intelligence infrastructure across all customer groups, improving supply and gross margin normalization in the second half of 2025 and beyond to drive strong sequential earnings expansion and positive Street revisions throughout next year.