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Nvidia price target raised to $170 from $140 at Raymond James
The Fly

Nvidia price target raised to $170 from $140 at Raymond James

Raymond James analyst Srini Pajjuri raised the firm’s price target on Nvidia (NVDA) to $170 from $140 and keeps a Strong Buy rating on the shares. Raymond James sees another strong quarter driven by “healthy” Hopper demand and early Blackwell ramps, but supply remains a wildcard and consensus has already moved higher, which could limit near-term upside, the analyst tells investors in a research note. The firm thinks $34B revenue for Q3 and $37B-$37.5B guidance is a more likely outcome, and says its base case is for Nvidia to ship roughly 100,000 Blackwell GPUs in Q4, near the low-end of expectations, though Blackwell ramps should accelerate in the first half of 2025 and see strong demand through 2025. Raymond James views any pullback due to high expectations as a buying opportunity.

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