Craig-Hallum Raises NVIDIA (NVDA) Price Target to $245, Reiterates Buy

NVIDIA Corporation (NASDAQ:NVDA) is a Must-Watch AI Stock on Wall Street. On August 28, Craig-Hallum analyst Richard Shannon raised the price target on the stock to $245.00 (from $195.00) while maintaining a Buy rating.

Despite a stock dip post-earnings, Craig-Hallum cited robust AI demand trends for the AI chipmaker. The question, however, is whether this robust demand will sustain over the next few years.

According to the firm, agentic and reasoning systems may lead the robust demand trend to continue, requiring much more compute needs than previous generations. However, the slowing pace of foundational models such as GPT-5 may lead the trend to slow down.

The firm believes Nvidia remains well-positioned regardless.

“However, the strongest evidence is the capex spending plans by the four leading HSDCs, along with the position that the risk of underinvesting in AI is higher than overinvesting. Until this changes, we see a robust environment for NVDA in which to participate, which the company sees at $3-4T through decade’s end. We also see NVDA’s system-level offerings, particularly on the networking level (NVLink and NCCL are critical enablers), creating enormous performance differentiators that are unlikely to be approached any time soon. Thus, we maintain our positive view on medium-term Datacenter growth for NVDA at strong margins. With the stock trading in the low 30’s EV/EPS, and a view that earnings growth can continue at least in this range, we still think the stock should be owned. We maintain our Buy rating while increasing our price target to $245.”

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