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.

Nvidia shares edged lower in early Monday trading, but are still on pace to add more than $350 billion in value this month, as two top Wall Street analysts issued new price target updates ahead of the AI chipmaker's third quarter earnings report next week.

Nvidia shares rose Tuesday after analysts at Mizuho raised their price target for the company’s stock ahead of its third-quarter results due Nov. 20.