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 reports its much-awaited third-quarter results next Wednesday after the market close. On Wednesday Mizuho analyst Jordan Klein said that analyst estimates for its January quarter are targeting $36 billion to $39 billion in revenue.

Key supply-chain players updated their AI-demand outlooks ahead of Nvidia's fiscal-third-quarter earnings next week.

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.