Why BofA Says to “Ignore the Noise” on NVIDIA Corporation (NVDA)

NVIDIA Corporation (NASDAQ:NVDA) is among the most traded US stocks so far in 2026. On May 21, BofA lifted the price target on NVIDIA Corporation (NASDAQ:NVDA) to $350 from $320 and reiterated a Buy rating following the company’s “solid beat/raise.” The firm raised its pro forma EPS estimates by 9% for FY27 and by 15% for FY28. While highlighting that the stock has dipped after three of the past four earnings calls, the firm said “ignore this noise” and focus on the company’s differentiated full-stack positioning in “the largest/fastest growing tech market of all time.”

On the same day, Jefferies said that the company reported another “beat and raise” quarter as Blackwell continues to accelerate, adding that NVIDIA Corporation (NASDAQ:NVDA) anticipates $20 billion of server revenue in FY27, with the release of Rubin in the third quarter. The firm elevated the price target on the company to $300 from $275 and reiterated a Buy rating.

Jefferies noted investors’ concerns around merchant XPUs and compute diversification, asserting the stock “continues to look remarkably cheap and the upside EPS case continues to widen.” Indeed, the company is among the most traded US stocks so far in 2026.

NVIDIA Corporation (NASDAQ:NVDA) is a California-based computing infrastructure company that offers graphics, compute, and networking solutions. Incorporated in 1993, the company operates through two segments: Compute & Networking and Graphics.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years 

Disclosure: None. Follow Insider Monkey on Google News.