Stifel expects good news to come from Nvidia’s third-quarter earnings report, due out on Wednesday. Heading into the graphic processing unit manufacturer’s third-quarter earnings, the investment firm reiterated its buy rating. Analyst Ruben Roy also raised his price target to $250 from $212, which signals 34% upside. NVDA YTD mountain NVDA YTD chart Ahead of Nvidia’s earnings report, Roy increased his estimates for the stock. For the last quarter, the analyst expects a “moderate” beat, based on historical cadence. He also believes that the company will share “optimistic” guidance for its current quarter. “CEO Jensen Huang’s recent keynote at GTC Washington D.C….outlined the company’s ongoing positioning as the backbone of AI infrastructure underpinned by more than $500bn in cumulative order book for Blackwell and Rubin infrastructure spanning 2025-2026,” he wrote. “With consensus (and our) expectations incorporating Mr. Huang’s commentary, expectations remain elevated.” Roy added that consensus now backs up Nvidia’s claims to have around $350 billion in unsold order backlogs. Exiting 2025, the analyst sees Nvidia yielding an overall total addressable market of more than $100 billion, while in the longer term this opportunity could approach $1 trillion. “While we continue to view NVDA’s exposure to Gaming, Automotive and Professional Visualization favorably, the shift from general purpose computes to accelerated compute represents the company’s most significant revenue and profitability growth opportunity over the next several years, in our view,” he wrote. “Our conversations, coupled with, recent industry data points, suggest that AI compute demand is likely to scale higher. We continue to view NVDA as best positioned to benefit.” Shares of Nvidia have surged 39% this year.
