By Nauman khan
Publication Date: 2025-11-21 16:27:00
This article first appeared on GuruFocus.
Evercore raised its price target on Nvidia (NASDAQ:NVDA) to $352, projecting 95% upside, citing accelerating Blackwell demand.
Evercore’s Mark Lipacis said checks show Blackwell revenue rose nearly 50% q/q, totaling more than $13 billion, as supply of GB200 and GB300 parts improved.
He noted Nvidia is building inventory to meet larger orders, with inventory up about 32% q/q and supply commitments climbing roughly 63%.
Lipacis estimates Nvidia has booked about $110 billion from its current compute pipeline, leaving some $390 billion potentially ahead in coming quarters.
He expects revenue growth to quicken from roughly 56% in mid-2025 to about 79% by mid-2026 as deployments accelerate.
Trading near 25 times forward earnings, Nvidia looks cheaper than its long-run multiple, Lipacis said, suggesting the pullback may offer patient investors a buying window.
