HSBC upgrades Nvidia, leaving few cautious analysts left on AI leader

HSBC sees a more optimistic future ahead for Nvidia as its potential pool of clients continues to swell. The bank upgraded the graphics processing unit manufacturer to buy from hold. Analyst Frank Lee also raised his target price to $320 per share from $200, signaling a whopping 78% upside from Tuesday's close. After the HSBC move that leaves just one major analyst firm with a hold rating, Deutsche Bank, according to Tipranks.com . Seaport Global has the only sell rating left on Wall Street. Lee cited a potential increase in GPU total addressable market for the fiscal 2027 year versus previous expectations, especially following Nvidia's deals with OpenAI and Stargate . These signs of an expanding market led the analyst to revise his data center estimates for the fiscal 2027 year to $351 bi