NVIDIA (NVDA) PT Raised to $190 at Benchmark

Benchmark analyst Cody Acree raised the price target on NVIDIA (NASDAQ: NVDA) to $190.00 (from $170.00) while maintaining a Buy rating.

The analyst comments: "Of course, all things are relative and NVDA’s fundamental performance may only be eclipsed by its valuation increase over the same short period, with NVDA surpassing a $3.5 trillion market cap, as its stock has grown 760% since early 2023, compared to the S&P500 that is up just 57%. So, are all of NVDA’s positive opportunities already reflected in its valuation? We would argue that near-term volatility notwithstanding, that NVDA’s shares still represent a compelling value for thoughtful investors willing to look past the near-term noise, with the sell-off an opportunity in the industry’s most unique investment property that is a critical key to the early stages of AI transforming how we, as a people, interact with technology. At a most simplistic consideration, we believe NVDA deserves to trade with a forward multiple at some exponent relative to its growth rate, which is expected to be 48% and 45%, for sales and earnings, respectively in FY26. Awarding the company a PEG rate multiple of even 1x our FY26 EPS estimate of $4.22, equates to our new PT of $190, vs $170, or a 34% upside to pre-market levels, which we believe is a conservative valuation multiple for a company that is performing exceptionally well fundamentally, executing its business model with a high degree of reliability that provides investors with a unique degree of visibility."

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