Nvidia earnings spark wave of target price hikes, with one firm calling for a $10 trillion valuation goal

Odaily News: Nvidia's latest earnings report and guidance exceeded expectations, boosting bullish sentiment on Wall Street, with more than a dozen major banks including Morgan Stanley, Citi, and Mizuho raising their price targets. At least 13 institutions raised their Nvidia price targets, with Raymond James Financial raising its target from $352 to $515, marking the highest current 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 target price corresponds to a market cap of approximately $12.4 trillion.

Nvidia's latest earnings beat expectations across the board: fiscal Q2 2027 revenue came in at $96.2 billion, up 106% year-over-year; adjusted EPS was $2.22, up 120% year-over-year; data center revenue reached $89 billion. The company expects fiscal Q3 revenue of $108 billion at the midpoint and projects roughly 70% revenue growth for fiscal 2028, significantly higher than the market's prior expectation of about 45%. (CLS)