Redburn Atlantic analyst Timm Schulze-Melander initiated coverage of the stock this week with a "buy" rating. The analyst set the price target at $178, implying upside of 21% over the current share price of $147 at the time of writing.

For what it's worth, Wall Street is overwhelmingly bullish. Among the 65% of analysts who follow Nvidia, 92% rate the stock a buy and the other 8% rate it a hold ahead of the company's third-quarter earnings report. Not a single analyst recommends selling Nvidia at the present time. Here's what investors should know.

Nvidia (NASDAQ:NVDA) was in focus on Thursday as several Wall Street firms upped their price targets on the semiconductor giant ahead of its fiscal third-quarter results, set to be released on November 20 after the close of trading.

Nvidia (NASDAQ: NVDA) has been the flag bearer for the artificial intelligence (AI) investing revolution since shortly after OpenAI's ChatGPT launched in November 2022. However, attention on the stock has waned in recent weeks as investors focused more on the presidential election results.