Nvidia (NASDAQ:NVDA) was in focus on Wednesday as investment firm KeyBanc Capital Markets and Susquehanna raised their price targets on the Jensen Huang-led company ahead of its quarterly earnings report on Aug. 27.
Shares were fractionally higher in premarket trading.
“We expect NVDA to report strong F2Q (Jul) results and guide F3Q (Oct) slightly below [consensus], as we expect NVDA’s outlook to exclude direct revenue from China given pending license approvals and uncertainty on timing,” KeyBanc analyst John Vinh wrote in a note to clients. “If NVDA were to include China in its guidance, we believe it would contribute an [incremental] $2-3B in revs, given H20 and the RTX6000D (B40).”
Vinh reiterated his Overweight rating and upped his price target to $215 from $190.
Susquehanna analyst Christopher Rolland also upped his price target, moving to $210 from $180 and maintained his Positive rating on the stock.
A consensus of analysts expect Nvidia to earn $1.01 per share on $45.92B in revenue for the coming quarter.
