Sell-side on Nvidia (NVDA) post-earnings: PT raises galore as NVDA amid strong outlook, long-term guidance, and increased transparency

Raymond James raises PT to USD 515 (prev. 352) and keeps a 'Strong Buy' rating; said results and FY28 outlook significantly exceeded expectations, with 70% projected growth, accelerating architectural demand, and robust capital returns driving optimism, while non-hyperscaler revenue is expected to outpace hyperscalers. Bernstein raises PT to USD 400 (prev. 315) and keeps an 'Outperform' rating; said Cos. Q2 results solidly beat and highlights data center upside on continued Blackwell momentum with strength across both Hyperscale customers and ACIE customers. JPMorgan raises PT to USD 320 (prev. 280) and keeps an 'Overweight' rating; said Nvidia's data center growth is accelerating on sustained Blackwell Ultra demand and a "step-up" in sovereign, AI-native, and enterprise revenue. Nvidia introduced its first-ever formal forward-year revenue framework for FY28 and characterized the outlook as supply-constrained, with unconstrained demand pacing materially higher. The firm views the outlook as likely conservative given the pace of agentic AI adoption and sovereign momentum globally. Oppenheimer raises PT to USD 315 (prev. 265) and keeps an 'Outperform' rating; sees GM bottoming in Q4 at 71.5% as Nvidia's price adjustments lag input cost increases. Oppenheimer looks for modest gross margin rebound in 2027 as the Co. is likely to absorb some input cost appreciation. Stifel raises PT to USD 315 (prev. 282) and keeps a 'Buy' rating; mgmt. issued its first longer-term, FY outlook in company history, with expectations for FY28 revenue growth of c. 70%, though the demand environment was characterized as supportive of 100% revenue growth. Citi raises PT to USD 315 (prev. 300) and keeps a 'Buy' rating; reported better than expected results due to "robust" AI demand. Citi says Nvidia's fiscal 2027 outlook topped estimates. Mizuho raises PT to USD 315 (prev. 300) and keeps an 'Outperform' rating; cites Cos. better than expected earnings report for the target boost, and Mizuho sees Nvidia "remaining the AI-GPU leader". Morgan Stanley raises PT to USD 300 (prev. 288) and keeps an 'Overweight' rating; firm remains "impressed" by short-term numbers given supply constraints, but adds that the "incremental surprise" from the quarterly report and call was the CY27 revenue commentary, and a reset to gross margins, both of which are positives. UBS raises PT to USD 300 (prev. 280) and keeps a 'Buy' rating; delivered strong results and firmer FY27 guidance implying more than USD 16 EPS, with demand supporting further upside despite memory-driven margin pressure, while expanding its platform and open-model ecosystem could drive roughly USD 22-23 EPS by CY28.