Citi raises Nvidia price target ahead of AI giant's earnings announcement
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 10 2025
0mins
Should l Buy NVDA?
Source: CNBC
Citi's Outlook on Nvidia: Citi maintains a buy rating for Nvidia, raising its target price to $220 per share, indicating a potential 17% upside ahead of the third-quarter report on November 19.
Sales Expectations: Analyst Atif Malik anticipates Nvidia's sales to reach $56.8 billion, surpassing Wall Street's forecast of $54.6 billion, driven by strong AI investments.
Market Forecast Revision: Malik has revised his forecast for the 2028 data center semiconductor market, now estimating it to be $654 billion, which is 16% higher than his previous expectation.
Earnings Predictions: Heading into earnings, Malik expects Nvidia to exceed expectations with projected sales of $57 billion for the October quarter and a guidance of $62 billion for January, while noting the stock's attractive P/E ratio compared to AI peers.
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Analyst Views on NVDA
Wall Street analysts forecast NVDA stock price to rise
41 Analyst Rating
39 Buy
1 Hold
1 Sell
Strong Buy
Current: 175.750
Low
200.00
Averages
264.97
High
352.00
Current: 175.750
Low
200.00
Averages
264.97
High
352.00
About NVDA
NVIDIA Corporation is an artificial intelligence (AI) infrastructure company. The Company is engaged in accelerated computing to help solve the challenging computational problems. Its segments include Compute & Networking and Graphics. The Compute & Networking segment includes its Data Center accelerated computing and networking platforms and AI solutions and software, and automotive platforms and autonomous and electric vehicle solutions, including software. The Graphics segment includes GeForce GPUs for gaming and personal computers (PCs), and Quadro/NVIDIA RTX GPUs for enterprise workstation graphics. Its technology stack includes the foundational NVIDIA CUDA development platform that runs on all NVIDIA GPUs, as well as hundreds of domain-specific software libraries, frameworks, algorithms, software development kits (SDKs), and application programming interfaces (APIs). Its platforms address four markets, which include Data Center, Gaming, Professional Visualization, and Automotive.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Surging Order Forecast: CEO Jensen Huang indicated that Nvidia expects approximately $1 trillion in purchase orders for its Blackwell and Vera Rubin chips by 2027, doubling last year's forecast of $500 billion, signaling sustained strong demand for AI chips.
- Future Revenue Expectations: Nvidia anticipates first-quarter revenue of $78 billion for fiscal year 2027, representing an almost 77% increase compared to the same period last year, reflecting strong growth potential in the Agentic AI applications sector, which will further drive demand for AI chips.
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- Historical Performance Insight: Since the AI arms race began in 2023, Nvidia has experienced four 20% pullbacks, each followed by a new all-time high within six months, demonstrating its strong recovery capability and market potential.
- Current Valuation Status: Nvidia's current P/E ratio stands at 19.9, lower than the S&P 500's 20.4, indicating its cheapest valuation in the past two years, with projected revenue growth of 71% this year and 30% next year, showcasing robust growth prospects.
- Investment Timing: Despite the current bearish market sentiment, analysts believe that elevated AI spending will continue, positioning Nvidia for potential new highs, making this an opportune time to invest in Nvidia stock.
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- Historical Performance Review: Since 2023, Nvidia's stock has experienced four 20% declines from its all-time high, each time recovering to new highs within six months, indicating strong resilience, and while current market sentiment is bearish, historical data may provide reassurance to investors.
- AI Spending Outlook: 2026 is projected to be another record year for capital expenditures, and despite cautious market attitudes towards AI spending, demand for AI continues to rise, suggesting significant growth potential for Nvidia in the coming years as elevated AI spending is crucial for achieving future goals.
- Valuation Appeal: Nvidia's current price-to-earnings ratio stands at 19.9, lower than the S&P 500's 20.4, with Wall Street forecasting a 71% revenue growth this year and 30% next year, indicating that Nvidia's stock could rebound to new highs as long as AI spending remains robust.
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