Three top Wall Street analysts stay bullish on Nvidia stock. Here’s why

Chip giant Nvidia (NVDA) is considered to be one of the key beneficiaries of the artificial intelligence boom, thanks to robust demand for its advanced graphics processing units (GPUs).

The stock has been under pressure recently due to concerns about valuations of AI plays and growing competition in the AI chip space from rivals like Broadcom (AVGO), Advanced Micro Devices (AMD) and Alphabet-owned Google’s tensor processing units (TPUs). Nvidia is also facing uncertainty related to chip exports to China amid geopolitical tensions between Washington and Beijing.

Despite ongoing pressures, several top analysts remain bullish on Nvidia for several reasons, including its solid track record, strong execution, continued innovation and dominant position in the AI GPU market. TipRanks’ AI Analyst also has an “outperform” rating on NVDA stock with a price target of $205.

Let’s look at the views of three such Wall Street pros who are bullish on Nvidia’s growth potential.

Following a virtual meeting with Nvidia’s vice president of investor relations, Toshiya Hari, Bank of America analyst Vivek Arya reiterated a buy rating on NVDA stock with a price forecast of $275, saying that he continues to view it as a top pick.

Among the key takeaways, Arya mentioned that while Nvidia agrees that Gemini 3 is a top large language model (LLM) that is trained on Google’s in-house TPU, the company contends that it is too early to declare a clear winner. Specifically, the company emphasized that the existing GPU-based LLMs available were all trained on old Hopper (2022) architecture and cannot be compared with the upcoming LLMs that are trained on NVDA’s Blackwell (2024) GPUs.

Arya highlighted that management is confident about the expected launch of the Blackwell-backed LLMs in early 2026, which would prove that “they are at least a full generation ahead of competition.” In fact, external benchmarks like MLPerf and InferenceMAX view Blackwell as the clear leader in both training and inference, with Nvidia standing out in terms of key metrics like tokens per watt and revenue per token.

The five-star analyst added that Nvidia continues to have demand and supply visibility into at least $500 billion of revenue opportunity for Blackwell, Rubin and networking for calendar years 2025 to 2026. Interestingly, the recent deals with ChatGPT maker OpenAI and Anthropic/Microsoft are incremental to this $500 billion outlook (as they are letter of intents) and represent potential upside.

Overall, the meeting reinforced Arya’s bullish thesis, with the analyst finding NVDA stock’s valuation attractive. Specifically, its price-to-earnings (P/E) multiples of 25x and 19x of 2026 and 2027 earnings, respectively, imply only a 0.5x PEG ratio. That’s compared to the average of 2x for the Magnificent Seven stocks and growth competitors.

Arya ranks No. 270 among more than 10,100 analysts tracked by TipRanks. His ratings have been…