Nvidia (NVDA)
On April 9, 2025, KeyBanc Capital Markets issued a research report and reaffirmed its “Buy” rating on Nvidia Corp (NVDA) and maintained its 12-month price target of USD 190 per share, reflecting the firm’s continued confidence in Nvidia’s AI leadership, strong earnings momentum, and dominant position in high-performance computing.
Why the Bullish Call from KeyBanc?
1. AI Demand Continues to Outpace Supply
KeyBanc sees continued global demand for Nvidia’s AI GPUs, particularly the H100 and upcoming B100 chips, as hyperscalers like Microsoft, Amazon, Meta, and Google expand their AI infrastructure. The firm expects this trend to drive revenue and margin expansion into late 2025 and beyond.
2. Strong Data Center Growth
Nvidia’s data center segment is now its largest revenue driver, and KeyBanc believes it has longer-term durability. The bank expects consistent spending from cloud providers, sovereign AI initiatives, and enterprise adoption of generative AI models to support double-digit growth.
3. Expanding Ecosystem & Software Monetization
The firm also highlighted Nvidia’s growing software ecosystem — including CUDA, TensorRT, and DGX Cloud — as underappreciated drivers of future earnings. These platforms position Nvidia not just as a chipmaker, but as a core AI infrastructure provider.
Valuation Perspective
Rapid earnings growth
Strong free cash flow generation
High visibility into AI hardware demand
The 12 month target forecast of $190 per share reflects a premium multiple on Nvidia’s expected FY2026 earnings, supported by bullish expectations for sequential revenue growth and operating leverage.
Outlook
KeyBanc’s reaffirmation of Nvidia as a top AI play suggests continued institutional confidence in the stock’s long-term trajectory. For investors looking for exposure to AI, cloud infrastructure, and advanced computing, Nvidia remains a key holding — and the updated $190 target signals that analysts still plenty of upside for the stock.
STA Research (StockTargetAdvisor.com) is a independent Investment Research company that specializes in stock forecasting and analysis with integrated AI, based on our platform stocktargetadvisor.com, EST 2007.
