Nvidia price target raised to $180 from $150 at Citi

Citi analyst Atif Malik raised the firm’s price target on Nvidia (NVDA) to $180 from $150 and keeps a Buy rating on the shares. The company reported April quarter results in-line and issued a July quarter sales outlook $1B above Citi’s expectations, “clearing the final hurdle of the China H20 ban transition quarter,” the analyst tells investors in a research note. Moreover, Blackwell sales of $24B topped Citi’s $20B expectations and management maintained mid 70’s gross margins target on improving Blackwell profitability with no major tariff impact, the firm contends. Citi believes that with margins expanding, Nvidia shares should “break its range bound trend” since mid-last year and will likely make a fresh 52 week high.