Target price points directly to $352! Evercore supports NVIDIA Corporation (NVDA.US): Revenue growth rate will soar to 79%

On November 20th, Evercore ISI announced an increase in the target price of NVIDIA Corporation (NVDA.US) from $261 to $352, while maintaining an "outperform" rating. After NVIDIA Corporation released its third-quarter financial report, the firm still considers it a "top pick" stock, citing the acceleration of revenue growth and significant improvement in product supply. Evercore ISI also pointed out that NVIDIA Corporation remains the "preferred target" in the AI ecosystem, with a substantial improvement in the supply of its GB200 and GB300 products. It is estimated that the revenue growth of the Blackwell computing platform could reach 48% on a quarter-over-quarter basis, generating additional revenue of over $13 billion compared to the previous quarter in July. "The revenue is accelerating again, and based on this, we are once again providing an 'outperform' rating, raising profit forecasts, and increasing the target price from $261 to $352. This target price is based on a benchmark EPS of $14.74 in 2030, discounted back to 2026 at a 35x P/E ratio. The performance aligns with the information we have obtained from channels: NVIDIA Corporation remains the preferred target in the AI ecosystem, the supply of GB200/GB300 has significantly improved, and Blackwell platform revenue has grown by nearly 50% on a quarter-over-quarter basis (adding over $13 billion)." Despite the ongoing supply constraints, the analysis points out that NVIDIA Corporation's inventory has increased by 32% on a quarter-over-quarter basis, and supply commitment amounts have surged by 63%, providing strong support for data center computing orders reaching up to $500 billion in 2025 - 2026. "An important point is that our model predicts that NVIDIA Corporation's revenue growth will significantly increase from 56% in the quarter ending July 2025 to 79% in the quarter ending July 2026. Such strong growth expectations are enough to support a 35x premium P/E ratio. Based on the current post-market stock price, NVIDIA Corporation's P/E ratio is only 25x, a discount of nearly 30% compared to its historical median of 35x over the past 9 years. Taking all factors into consideration, the risk-reward ratio remains attractive, making NVIDIA Corporation our top pick." The analysts further added that based on current trends, Evercore's previous forecast of NVIDIA Corporation's combined revenue reaching $493 billion in 2025 and 2026 may be "too conservative."