Jefferies sets Nvidia stock price target at $275

Jefferies analyst Blayne Curtis raised the firm’s price target on Nvidia (NASDAQ: NVDA) from $250 to $275 on Friday, January 16, reiterating a ‘Buy’ rating and citing confidence in the company’s roadmap unveiled at the Consumer Electronics Show (CES) earlier this month. 

As Nvidia’s updated model extends to 2028, the price revision shows long-term confidence in its growth trajectory. What’s more, Curtis said Nvidia stock remains ‘pretty cheap,’ based on earnings estimates for calendar-year 2027. 

“NVDA remains pretty cheap, trading at mid-teens our bottom-up implied CY27 estimate with more upside potential from there (while estimate revisions won’t be as large as AVGO, we still expect material beats and raises with estimates moving higher over the next several quarters).”

He added:

“We are positive on the GP Server growth for AMD through the year, expecting both strong market growth and share gains.” 

Of course, the bullish stance is not merely the result of CES hype but reflects Nvidia’s fundamentals as well. Namely, the chipmaker’s revenue over the last twelve months has surged 65.2% to $187.1 billion, and Jefferies expects it to trend higher in the future.

Jefferies in line with Wall Street’s Nvidia consensus 

The new price target is indicative of Wall Street’s generally positive outlook on Nvidia as central to the artificial intelligence (AI) sector. Indeed, NVDA shares has received a number of supportive revisions this month and still remains an investor favorite as one of the most highly rated buys.

Just this week alone, RBC Capital, Barclays, JP Morgan, Wells Fargo, and KeyBanc all reiterated their ‘Buy’ ratings. The week prior, Mizuho Securities upped its Nvidia price target from $245 to $275, while Citi set it at $270.

All in all, the stock analysis platform TipRanks reports 39 ‘Buy’ ratings at the time of writing, with only one ‘Hold’ and one ‘Sell’ to oppose it. As for the price outlook, the average NVDA price target for this year sits at $263.44, which indicates that analysts who’ve given their two cents on the stock in the past three months see a nearly 40% upside potential.

The overall sentiment thus remains upbeat, even as Nvidia trades near record highs. That is, continuous price upgrades suggest that analysts continue to view the company as the backbone of the AI infrastructure boom, with demand for its GPUs showing little sign of slowing despite growing competition and geopolitical headwinds.

Featured image via Shutterstock