As Nvidia gears up for its flagship GTC conference next week, Wall Street analysts are reiterating their bullish stance on the chipmaker. Nvidia’s annual GPU Tech Conference , or GTC, will take place in San Jose, California and run from March 16 to March 19. Truist Securities analyst William Stein, who called the event the “Super Bowl of AI,” anticipates the company to share its forecast for future supply and demand dynamics, its backlog and market growth opportunities. Stein and other Wall Street analysts are also looking forward to the company speaking on its emerging and broadened AI portfolio, which includes models and businesses. Wall Street shops also anticipate that the event will serve as a tailwind for shares of Nvidia. “We believe GTC will be a positive catalyst for NVDA because we expect management to signal that supply, production, and demand, all align to support continued growth in the near to medium term,” Stein wrote. “We do see an upside bias for the stock on the event, although it is hard to see NVDA being able to provide thesis-altering commentary that creates a breakout for the stock but we do see the company providing some more confidence around system scalability, networking leadership, and AI capex durability,” added UBS analyst Timothy Arcuri. Nvidia stock has been swept up in this year’s broad technology declines, and shares are down less than 1% for 2026. However, over the past 12 months the stock has surged 73%. NVDA 1Y mountain NVDA 1Y chart Bottom line, analysts maintained their buy ratings ahead of next week’s conference. Here’s what Wall Street had to say. UBS: buy rating, $245 price target The bank’s forecast implies upside of 34%. “We expect NVDA to address key debates and provide key roadmap updates. We do see an upside bias for the stock on the event, although it is hard to see NVDA being able to provide thesis-altering commentary that creates a breakout for the stock but we do see the company providing some more confidence around system scalability, networking leadership, and AI capex durability. We maintain our estimates for C2027E/2028E EPS at ~$13/~$15, which at the current price suggests a seemingly unsustainable 12x P/E multiple on C2028E.” Mizuho: outperform, $275 Mizuho’s price target corresponds to a rally ahead of about 51%. “At GTC, we believe NVDA could dive deeper into: 1) potential new Groq-based inference chip, 2) NVDA’s Optical/networking roadmap with CPO [co-packaged optics] (+ve LITE) and Quantum and NVQLink/CUDA-Q, 3) ICMSP [inference context memory storage platform] storage, 4) Rubin, including performance metrics, CPX and Kyber racks, and 5) 800V architectures transition in 2027E with Rubin Ultra.” Truist Securities: buy, $283 Stein’s price target is approximately 55% above where shares of Nvidia closed Monday. “We anticipate updates on supply, demand, market growth, trends in current & emerging semiconductors / computers / rack technologies, software, and emerging AI models and businesses. We believe GTC will be a positive catalyst for NVDA because we expect management to signal that supply, production, and demand, all align to support continued growth in the near to medium term. We expect architecture commentary will be constructive for TTMI (Buy) and for optical components, but potentially negative for connectors APH (Buy) and TEL (Hold).” Bank of America: buy, $300 The bank’s price target implies that Nvidia stock could rally 64%. “We highlight three areas of focus: 1) An updated product pipeline through Feynman GPUs (2028), 2) A new wide range of co-designed (customized) and disaggregated products (i.e. CPX for inference prefill, LPU for low-latency decode – see our recent AI inference primer and AI CPU primer), and 3) Proprietary optics in scale-up (CPO-integrated switches, etc.). Moreover, while we don’t expect an official 2027-28 sales outlook, any color around Rubin ramp (CY27-28) could help the currently depressed stock (at historical low 17x fwd PE), following a strong Blackwell ramp with $0.5Tn in cumulative sales.” Melius Research: buy, $380 The research firm sees shares of Nvidia doubling, or surging 108% from here. “Given the astonishing progress of AI of late it is important to address what will be the ‘elephant in the room’ as Jensen Huang prepares for his big GTC show next week in San Jose. The elephant is that the real AI TAM [total addressable market] is labor, all $60 trillion of it globally. Sure, Jensen will announce new chips and software, including astounding inference and training solutions that will propel Nvidia ahead of the pack yet again. His biggest challenge will be convincing investors 2027-2029 are rapid growth years that will overcome shortages that range from power to components to the free cash flow of his key customers. Investors are still getting their arms around the end to the means of AI — automating all labor. This endeavor will drive value for companies, consume a ton of compute while creating new winners and losers — even if constraints impact growth from time to time.”
Buy Nvidia ahead of its pivotal AI conference, analysts say
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