TD Cowen reiterated a Buy rating and $275 price target on Nvidia, citing its position in a multi-year AI infrastructure build-out. Demand is increasingly driven by inference and agentic workloads, not just training.
The stock trades under 20 times fiscal 2028 EPS, with a PEG ratio of 0.67, indicating undervaluation. Positives include a beat-and-raise quarter, Vera Rubin shipments on track, and $20 billion in CPU revenue expected.
Negatives: operating expenses to grow in the high-40% range in fiscal 2027, CPU sales reconciliation challenges, and lack of near-term catalysts. Still, the stock returned 70% over the past year.
Other analysts also raised targets: KeyBanc to $310, Jefferies to $300, JPMorgan to $280, BofA to $350, RBC to $270.
