July 7 - Citi's top analyst, Atif Malik, lifted his price target on NVIDIA (NVDA, Financial) from $180 to $190, implying about 19% upside, according to a Monday research note.
Malik boosted his 2028 total addressable market estimate for AI data‑center semiconductors by 13% to $563 billion, up from $500 billion, citing stronger sovereign demand. He also raised the networking TAM for 2028 to $119 billion from $90 billion, driven by growing needs for larger AI training clusters and expanded data‑center networking.
Keeping his price‑to‑earnings ratio at 30×, Malik increased his fiscal 2028 EPS forecast for NVIDIA to $6.37. He expects the company's Blackwell GB200 and GB300 platforms to drive revenue gains and pushed gross‑margin estimates into the mid‑70 percent range by the end of fiscal 2026.
All told, Malik's upward revisions highlight growing confidence in NVIDIA's AI leadership, and suggest that the chipmaker may continue to outpace market expectations.
