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.

However, attention is likely to return to Nvidia when it reports third-quarter earnings on Wednesday, Nov. 20. The company is already getting some favorable attention from analysts ahead of the report.

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 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.