Well no actually, at least according to the guy himself (added note and emphasis):

Now I do not always do things just as the others want them done. I consider what the others probably believe, and then do the opposite on principle. So if Mr. Stalin expected that we would attack in the center [Moscow], I did not want to attack in the center, not only because Mr. Stalin probably believed I would, but because I didn’t care about it any more at all. But I wanted to come to the Volga, to a definite place, to a definite city. It accidentally bears the name of Stalin himself, but do not think that I went after it on that account.

Indeed, it could have an altogether different name. But only because it is an important point, that is, there 30 million tons of traffic can be cut off, including about 9 million of oil shipments. There all the wheat pours in from those enormous territories of the Ukraine, of the Kuban territory, then to be transported to the North. There the manganese ore was forwarded. A gigantic terminal was there; I wanted to take it.

Now you can of course question if the narrative given in a propaganda speech is accurate, but I have never really seen sources for Hitler wanting to attack because of the name. So it kind of seems like a persistent urban legend to me.