‘Buy Nvidia Stock Now,' Says Five-Star Analyst
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He also expects third-quarter revenue and EPS to reach $55 billion and $1.25, compared to consensus forecasts of $52.6 billion and $1.18. As a result, Muse raised his price target on the stock to $240 and maintained his Buy rating. In addition to the Blackwell ramp, China is another key factor in Nvidia's outlook. Previously, Nvidia had completely removed revenue from Chinese data centers in its forecasts. But recently, licenses were reportedly granted to allow sales of its H20 AI chips in China again.
While this opens up a new revenue stream, Muse cautioned that U.S. export taxes and Chinese government concerns about security could limit the scale of those sales. Still, since China was already 'de-risked' in previous projections, any revenue generated from that market would be a bonus rather than a requirement to meet expectations. Looking ahead, Nvidia is scheduled to report its quarterly earnings on August 27. Muse emphasized that despite past slowdowns in Nvidia's earnings surprises since its July 2023 'Big Bang' guidance, the upcoming quarter could be the start of a new period of stronger results.
What Is a Good Price for NVDA?
Turning to Wall Street, analysts have a Strong Buy consensus rating on NVDA stock based on 35 Buys, two Holds, and one Sell assigned in the past three months, as indicated by the graphic below. Furthermore, the average NVDA price target of $192.62 per share implies 5.7% upside potential.
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