Wells Fargo Hikes NVIDIA Price Target to $315 Ahead of Earnings: Is the AI King Still Cheap at 20x P/E?

Quick Read

• Wells Fargo raised NVIDIA’s (NVDA) price target to $315 from $265 with an Overweight rating, arguing the stock trades at under 20x 2027 earnings despite peak-margin concerns.

• Wells Fargo’s gigawatt-capacity-driven model frames NVIDIA’s 2027 earnings as sustainable rather than peak-cycle, positioning the AI infrastructure opportunity against bear case concerns over competitive pressure and custom silicon threatening margins.

• The analyst who called NVIDIA in 2010 just named his top 10 AI stocks. Get them here FREE.

NVIDIA (NASDAQ:NVDA) stock just earned a fresh endorsement from Wells Fargo, which raised its price target to $315 from $265 and reiterated its Overweight rating on NVIDIA. The price target raise lands just eight days before NVIDIA’s quarterly report on May 20, with the firm arguing the stock still trades at less than 20 times price-to-earnings on what it views as durable 2027 consensus estimates.

For prudent investors, the call frames a familiar debate: is the AI king still cheap, or are peak margins masking cycle risk? The answer could shape positioning ahead of the May 20 earnings report.

The Analyst’s Case

Wells Fargo is positive on the NVIDIA Q1 FY2027 set-up ahead of quarterly results and is raising estimates based on a new…