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

Odaily 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 target prices in quick succession. At least 13 institutions have raised their Nvidia target prices, with Raymond James Financial raising its target from $352 to $515, setting the highest target so far; 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 capitalization of approximately $12.4 trillion.

Nvidia's latest earnings report comprehensively beat expectations: In the second quarter of fiscal 2027, revenue reached $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 expects third-quarter revenue to come in at a midpoint of $108 billion, and projects fiscal 2028 revenue growth of approximately 70%, significantly higher than the market's previous expectation of around 45%. (CLS)