Raymond James Lifts Nvidia Target to $550, Implying $13 Trillion Market Cap

3 articles · Updated · Yahoo Finance · Aug 28

$550 is Simon Leopold’s new Nvidia price target, up from $352 and about 130% above current levels, after the chipmaker’s earnings beat and stronger long-term growth outlook.
Nvidia posted adjusted EPS of $2.22 on $96.2 billion in revenue, topping forecasts of $2.09 and $92.3 billion, while Data Center sales reached $89 billion versus $85.8 billion expected.
The bullish call leans on Nvidia’s forecast for 70% fiscal 2028 revenue growth—well above the 45% analysts expected—and on Q3 revenue guidance of $105.8 billion to $110.1 billion, which would push quarterly sales above $100 billion for the first time.
Leopold also pointed to faster Rubin and LPU ramps, with Vera Rubin production shipments starting this month and expected to reach about 20% of Data Center revenue in fiscal Q3 2027.
Nvidia shares jumped as much as 9% after the results, even as they slipped 1% in Friday premarket trading; Leopold’s target stands far above the roughly $306 average analyst target.

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