Wells Fargo analysts have raised their price target for Nvidia stock to $315, implying a 40% surge from its current record high of $225. The bank cites Nvidia’s shift toward selling $3 million AI server infrastructure and an ongoing “AI supercycle” as key drivers. Despite its massive valuation, the company’s forward P/E ratio is lower than a year ago as earnings outpace the stock price.
Analysts at Wells Fargo have reaffirmed a bullish stance on Nvidia stock, setting a new price target of $315. This target, stated on May 12, 2026, suggests a potential 40% gain from the stock’s current trading level of $225.
The bank’s analysts wrote that Nvidia is forming an “AI supercycle” and is only in its second innings. Their focus extends beyond GPU chips to the company’s hardware and infrastructure business.
Nvidia is now selling comprehensive AI server racks, like the GB200 NVL72, for $3 million each. This shift positions the company as an infrastructure provider rather than just a hardware seller.
Wells Fargo analysts believe Nvidia’s data center revenues could continue growing into what they term ‘sovereign AI.’. The company’s forward price-to-earnings ratio is reportedly lower now than it was a year ago.
This is because the company’s earnings are growing faster than its stock price. The analysis suggests this dynamic could support further stock appreciation for the $5 trillion company.
