Top Analysts Are Bullish on Nvidia Stock (NVDA) Ahead of GTC Event

Nvidia’s NVDA +2.72% ▲ upcoming GPU Technology Conference (GTC), scheduled for March 16 to 19, is one of the most-awaited events in the tech sector, given the key role the chip giant is playing in the ongoing AI boom. Top analysts from Truist and Bank of America reiterated a Buy rating on NVDA stock and discussed their expectations from this key event.

Claim 70% Off TipRanks Premium

• Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions

• Stay ahead of the market with the latest news and analysis and maximize your portfolio’s potential

Truist Analyst Is Optimistic About Nvidia’s GTC

Truist analyst William Stein reiterated a Buy rating on Nvidia stock with a price target of $283. The 5-star analyst expects updates on supply, demand, and market growth. He also expects Nvidia to provide insights into trends in existing and emerging semiconductors, computers, and rack technologies, software, and upcoming AI models and businesses.

Stein views GTC as a “positive catalyst” for NVDA stock, as he expects management to suggest that supply, production, and demand are aligned to drive continued growth in the near to medium term. Also, the analyst expects architecture commentary to be constructive for TTM Technologies TTMI +10.11% ▲ and for optical components, but potentially unfavorable for connectors Amphenol APH +3.18% ▲ and TE Connectivity TEL +0.19% ▲ .

BofA Is Bullish on NVDA Stock

Additionally, Bank of America analyst Vivek Arya reaffirmed a Buy rating on NVDA stock with a price target of $300. The 5-star analyst highlighted three areas of focus:

• An updated product roadmap through Feynman GPU generation (2028)

• An expanded lineup of co-designed and disaggregated solutions (such as CPX for inference prefill, LPU for low-latency decode)

• Proprietary optics in scale-up networks, such as CPO-integrated switches

While Arya doesn’t expect Nvidia to issue a sales outlook for 2027-28, he thinks that any commentary on the Rubin ramp in calendar year 2027-2028 could drive the “currently depressed stock” following a solid Blackwell ramp with $0.5 trillion in cumulative sales. He highlighted that consensus for Nvidia data center is already about $0.75 trillion for calendar year 2026 to 2027 and nearly $1.0 trillion for 2027 to 2028.

Is NVDA Stock a Strong Buy?

Given a robust demand backdrop, Wall Street has a Strong Buy consensus rating on Nvidia stock based on 39 Buys and one Hold recommendation. The average NVDA stock price target of $272.16 indicates 49% upside potential.

Disclaimer & DisclosureReport an Issue