Nvidia's earnings report triggers wave of price target upgrades, with one institution calling for a $10 trillion valuation target

Odaily News Nvidia's latest earnings report and guidance surpassed expectations, boosting bullish sentiment on Wall Street, with over a dozen major banks including Morgan Stanley, Citi, and Mizuho raising their price targets in quick succession. At least 13 institutions have raised their Nvidia price targets, with Raymond James Financial raising its target from $352 to $515, marking the highest current price target; Melius Research raised its target from $400 to $420, Bernstein from $315 to $400, and Rosenblatt Securities from $325 to $390. Based on Nvidia's 24.1 billion shares outstanding, the $515 price target corresponds to a market capitalization of approximately $12.4 trillion.

Nvidia's latest earnings report comprehensively beat expectations: Q2 FY2027 revenue came in at $96.2 billion, up 106% year-over-year; adjusted earnings per share were $2.22, up 120% year-over-year; data center revenue reached $89 billion. The company guided Q3 revenue to a midpoint of $108 billion and expects FY2028 revenue growth of approximately 70%, significantly higher than the market's prior expectation of around 45%. (CLS)