Citi's research report highlights an increase in the target price for NVIDIA (NVDA, Financial) from $180 to $190, driven by the expanding potential of the artificial intelligence (AI) market. The bank forecasts that the potential AI market for data center semiconductors will reach $563 billion by 2028, representing a 13% increase from previous estimates of $500 billion.
Citi has also revised NVIDIA's data center sales projections upward for fiscal years 2027 and 2028 by 5% and 11% respectively. Notably, they expect data center network sales to grow by 12% in 2027 and 27% in 2028. Additionally, Citi raised its earnings per share forecast for NVIDIA by 6% for 2027 and 21% for 2028, maintaining a "buy" rating for the stock.
