Analysts call Nvidia’s dip a buying opportunity amid strong growth outlook

Investing.com -- As Nvidia (NASDAQ:NVDA) shares experience recent volatility, leading Wall Street analysts remain overwhelmingly bullish on the AI chip giant’s prospects ahead of its November 19 earnings report.

Major financial institutions including Citi, Wolfe Research, and Bank of America Securities have released detailed analyses suggesting Nvidia’s current valuation may represent a buying opportunity, with significant upside potential based on the company’s recent disclosures and order pipeline.

Here’s what top analysts are saying about Nvidia’s outlook:

Citi

Maintains a "Buy" rating with a price target of $220, recently opening a 30-day "Upside" short-term view on expectations of a "beat and raise" earnings report. Citi models October-quarter sales of $57 billion, above consensus estimates of approximately $55 billion, and expects January-quarter guidance of $62 billion versus Street expectations of around $61 billion. The firm highlights Nvidia’s disclosure of shipping 6 million GPUs as an indication of near-term upside. Citi has increased its FY26/27/28 EPS estimates by 2%/7%/8% to better align with revised global AI capital expenditure models, applying a 30x P/E multiple to its CY26 EPS estimate of $7.24.

Wolfe Research

Following Nvidia’s recent disclosures at GTC, Wolfe sees "clear upside" to consensus numbers for CY26. The firm notes Nvidia’s indication of shipping approximately 3 million Blackwell chips to date in 2025, with line of sight to cumulative $500 billion in Blackwell and Rubin revenue (representing about 10 million GPU chips) through the end of 2026. This suggests roughly $300 billion in Blackwell and Rubin revenue in 2026 alone—approximately 20% above Wolfe’s current estimates. The analysis supports a base case of approximately $8 in CY26 EPS, putting the stock at "a very reasonable 25x that earnings power." Wolfe also highlights that most incremental revenue appears to be derived from pricing, with ASPs rising more than 50% generation-over-generation from Blackwell to Rubin, which is positive for gross margins.

Bank of America Securities

Describes Nvidia stock as "compelling" and "priced for measured AI buildout." BofA notes that Nvidia’s disclosure of approximately $500 billion in CY25/26 data center orders suggests potential for around $8 per share in CY26 EPS. This would represent year-over-year growth of 50% in sales and 70% in EPS, yet the stock trades at "essentially an undemanding 24x PE market multiple." The firm argues that despite media headlines, Nvidia stock is priced for "very measured AI rollouts" and considers the noise around China restrictions "unhelpful but irrelevant" to near and medium-term financial estimates.

Story Continues

With Nvidia’s earnings approaching, investors will be watching closely to see if these bullish analyst projections materialize in the company’s financial results and guidance.

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