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 beat expectations, boosting bullish sentiment on Wall Street, with more than a dozen major banks including Morgan Stanley, Citigroup, and Mizuho raising their target prices. At least 13 institutions raised their target price for Nvidia, with Raymond James Financial raising it from $352 to $515, marking the highest target price so far; Melius Research raised it from $400 to $420; Bernstein raised it from $315 to $400; and Rosenblatt Securities raised it 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 roughly 70% revenue growth for fiscal 2028, significantly higher than the market's prior expectation of approximately 45%. (CLS)