NVIDIA shares received a boost on Monday after Citi raised its price target to $210 from $200, citing higher AI infrastructure spending forecasts and a stronger company roadmap.
In a mid-quarter update, Citi analysts said they “walked away incrementally positive on the company’s roadmap and competitive positioning post Rubin CPX GPU launch.”
Citi now models October and January quarter sales of $54 billion and $62 billion, respectively, while lifting 2026 and 2027 estimates by 1% and 10%.
Citi wrote that “we lift our TP to $210 from $200 on consistent 30x P/E times revised CY26E ~$7 earnings power and view GTC Washington Oct 27-29 as a potential catalyst for the stock.” The firm reiterated a Buy rating.
NVIDIA management addressed several investor concerns. On the GPU versus ASIC debate, Citi noted that management’s “outlook is strong and they feel good about execution and roadmap.”
On the Rubin CPX announcement, Citi said the company clarified that “the one-year product cadence is still intact… [and CPX] is meant to address large context inference” alongside the Vera Rubin device expected in late 2026.
The analysts also highlighted NVIDIA’s remarks on OpenAI’s $100 billion investment plan.
Citi wrote: “We believe OpenAI came to NVIDIA asking for help as NVIDIA has a very compelling product… OpenAI has challenges when it comes to securing data centers, land and power and needs support.”
Citi stated that NVIDIA’s recent Intel partnership has no impact on its ARM commitment or roadmap but adds “more options with x86” for customers, particularly in high-frequency financial services.
Source :
https://www.investing.com/news/stock-market-news/citi-lifts-nvidia-target-on-stronger-ai-spending-outlook-4263743
