Nvidia Stock Has 'Significant Upside' As AI 'Godfather' Jensen Huang Delivers Another 'Robust Quarter'

NVIDIA Corporation NVDA analysts break down the impact of China export restrictions and what it means for the tech giant after the company reported first-quarter financial results and shared the lost revenue opportunity for China.

The NVDA Analysts: Rosenblatt analyst Kevin Cassidy maintained a Buy rating on Nvidia and raised the price target from $178 to $200.

• Needham analyst Quinn Bolton maintained a Buy rating with a $160 price target.
• Benchmark analyst Cody Acree reiterated a Buy rating with a $190 price target.
• Wedbush analyst Dan Ives maintained an Outperform rating and $175 price target ahead of results.
• JPMorgan analyst Harlan Sur reiterated an Overweight rating with a $170 price target.

Read Also: Nvidia Stock Is Surging Thursday: What’s Fueling The Move?

Rosenblatt on NVDA: The tech giant reported a "better than feared" quarter, Cassidy said in a new investor note.

The analyst said Blackwell demand shipments could offset the weakness from restricted shipments to China.

"We now see China as de-risked with a potential upside coming from a downgraded version of Blackwell, though management did not commit to this product," Cassidy said.

The analyst said Nvidia's key message is that AI Factories are a huge growth item equivalent to the past build out of electric power grids or the internet.

"Every company and every country are in the process of planning or deploying the use of AI."

Needham on NVDA: The lost revenue opportunity from China restrictions was larger than expected, Bolton said in a new investor note.

The analyst said Nvidia's guidance came in lower than expected, while gross margins were better than expected.

"Export restrictions largely exclude NVIDIA from the China AI market ($50BN TAM), and loss of access to this market could have a material adverse effect on the company's business and benefit foreign competitors," Bolton said.

Bolton highlighted that Blackwell is the fastest product ramp in Nvidia history, which helped the data center segment grow revenue by 73% year-over-year in the quarter.

"We view both Enterprise and Industrial AI in early stages."

Benchmark on NVDA: Acree said in a new investor note that Blackwell’s aggressive ramp could help offset investors’ fears about China.

The analyst said Nvidia stock being up after earnings was likely the right reaction to the results and guidance.

"We agree with the market's initial reaction to its results, which once the China charge and associated revenue is netted out, equal a solid beat and raise report," Acree said.

Acree said Nvidia reported strength across the AI industry with company's investing in AI infrastructure despite tariff and global macroeconomic concerns.

"We believe Wednesday's report answers much of the market's concerns, as Nvidia appears to be growing despite its China issues."

Acree said the expectation is that Nvidia will come up with a solution to work around the China restrictions as the Chinese market "is too large and strategically important" for Nvidia to be absent from.

"Expect Jensen to do whatever is necessary to re-engage and reclaim its lost opportunity."

Wedbush on NVDA: Nvidia and CEO Jensen Huang delivered a strong quarter with "robust numbers," Ives said in a new investor note.

"With all the world and markets watching…the Godfather of AI Jensen and Nvidia delivered another robust quarter after the bell handily beating the Street yet again," Ives said.

Ives said the company's commentary was positive despite the demand issues from China restrictions.

"That should be music to the ears of tech bulls listening to this conference call."

The analyst said Nvidia’s market capitalization could reach $4 trillion in the future and potentially reach $5 trillion in "the coming years."

Ives said the numbers without the China exclusions are "staggering" and show the "massive historic demand" for the AI Revolution.

The analyst calls Nvidia's AI chips "the new oil and gold in the world."

"This is a very important print and guide for the broader tech world and it shows the AI Revolution is heading into its next gear of growth despite the Trump tariff war playing out."

JPMorgan on NVDA: Nvidia's first quarter saw "solid results" despite the China restrictions, Sur said in a new investor note.

The analyst said Blackwell shipments will likely ramp higher through the year.

"Demand for Blackwell is very strong and will continue to outstrip supply for several quarters," Sur said.

Sur said Nvidia is one to two steps ahead of competitors with its platform and ecosystem and this gap could widen with more products over time.

"We believe NVIDIA continues to execute across all segments."

Sur said the automotive and enterprise segments showed strength in the quarter.

NVDA Price Action: Nvidia stock is up 4.8% to $141.28 on Thursday versus a 52-week trading range of $86.63 to $153.13. Nvidia stock is up 1.6% year-to-date in 2025.

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