Truist Raises NVIDIA Price Target, Keeps Buy Rating

On Thursday, May 29, Truist Securities raised the price target for NVIDIA Corporation (NASDAQ:NVDA) to $210 from $205 and maintained a “Buy” rating. This decision came after the company reported strong results for the first quarter of fiscal 2026. NVIDIA Corporation (NASDAQ:NVDA) reported a revenue of $44.1 billion, an increase of 12% from Q4 and 69% from the same quarter in the previous year.

Truist Raises NVIDIA Price Target, Keeps Rating

Truist Securities noted that the corporation overcame a significant challenge due to export controls. Without these restrictions, NVIDIA Corporation’s (NASDAQ:NVDA) Q1 results and Q2 guidance would have exceeded the consensus estimates by a wide margin. However, because of the export limits, the Q1 results only slightly beat expectations and the Q2 forecast was slightly below the consensus.

Additionally, the analyst pointed out that the demand for NVIDIA Corporation’s (NASDAQ:NVDA) products continues to grow among cloud service providers, enterprises, and government entities. However, the $50 billion Total Addressable Market (TAM) in China is currently on hold. Despite this, Truist Securities has raised its estimates for NVIDIA’s margins and increased the forecast for EPS in calendar year 2026 to $5.99 from $5.87.

While we acknowledge the potential of NVDA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NVDA and that has’ a 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 11 Stocks That Will Bounce Back According To Analysts and 11 Best Stocks Under $15 to Buy According to Hedge Funds.

Disclosure: None.