/Nvidia%20logo%20by%20Konstantin%20Savusia%20via%20Shutterstock.jpg)
Evercore analyst Mark Lipacis says the recent weakness in Nvidia (NVDA) is an opportunity to load up on a quality name at a discount.
Lipacis attributes ongoing turbulence in NVDA stock to Blackwell delays and concerns that China-based DeepSeek’s recently launched low-cost LLM could hurt the U.S. giant in two ways:
- It could weigh on the broader demand for artificial intelligence.
- It could make companies prefer ASICs over Nvidia chips.
But the Evercore analyst remains uber bullish on Nvidia shares as he sees all of these concerns as overstated.
Nvidia Stock Could Soar to $190 in 2025
Lipacis expects lower-cost models to make it easier for small and medium-sized enterprises to adopt AI, leading to an increase in aggregate demand that helps Nvidia in the long run.
Additionally, the analyst does not expect ASICs to threaten NVDA’s lead in public cloud and enterprise AI in the near term. In fact, the strength of its developer community and its CUDA software puts Nvidia in a league of its own, he added in a research note on Thursday.
Evercore sees upside in Nvidia stock to $190 as the demand for its AI products remains rather strong. Lipacis is convinced that the company’s H100 will retain customers until NVDA starts shipping its much-anticipated Blackwell chips in the back half of 2025.
NVDA Is Trading at an Attractive Valuation
The Evercore analyst recommends buying Nvidia stock ahead of its quarterly earnings on Feb. 26 also because it’s trading “below its 8-yr median P/E of 36x” at the time of writing.
Lipacis expects the data center company to report a strong fourth quarter for its fiscal 2025 and guide for continued momentum ahead, which could help unlock significant further upside in its stock, he told clients.
Wall Street currently expects NVDA to grow its earnings by nearly 135% this year, followed by another 43.68% in 2026.
What Other Analysts Expect from Nvidia Shares
Evercore’s Lipacis is not alone in staying bullish on Nvidia stock.
The consensus rating on the semiconductor behemoth currently sits at “Strong Buy” with the mean target of $177.43 indicating potential upside of 30% from current levels.
Despite recent weakness, NVDA is currently up roughly 100% versus its 52-week low.
