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Investing.com - KeyBanc maintained its Overweight rating and $250.00 price target on Nvidia (NASDAQ:NVDA) ahead of the company’s upcoming fiscal third-quarter results.
The firm expects Nvidia to report strong results for the October quarter and provide higher guidance for the January quarter, citing several key growth drivers.
KeyBanc identified increasing shipments of B300 as a potential tailwind for both units and average selling prices, while also noting improving GB300 rack production with estimated fiscal year 2026 rack shipments of 28,000-30,000 units.
The analyst also pointed to increasing Hopper production, suggesting Nvidia may have resumed shipments to China, which could contribute to the company’s performance.
Despite these positive factors, KeyBanc cautioned that Nvidia remains capacity constrained, which could limit more significant upside and impact shipments of gaming GPUs, leading the firm to only slightly raise its estimates while maintaining its Overweight rating.
In other recent news, Nvidia is preparing to announce its fiscal third-quarter earnings, with Oppenheimer projecting potential upside to the consensus expectations of $54.7 billion in sales and $1.25 earnings per share. Oppenheimer has raised its price target for Nvidia to $265, maintaining an Outperform rating, while Susquehanna increased its price target to $230, citing strong AI demand and increased capital expenditure plans by major hyperscalers. Nvidia’s CEO, Jensen Huang, mentioned that the company is not currently planning to ship products to China but expressed hopes to re-enter the Chinese market in the future.
Additionally, Microsoft is expanding its data center capabilities with a new AI "super factory" in Atlanta, which will utilize Nvidia’s graphics processing units. This facility is part of Microsoft’s strategy to double its data center footprint and enhance AI training capabilities. Meanwhile, AI coding tool maker Cursor has raised $2.3 billion in funding, reaching a valuation of $29.3 billion, with contributions from investors like Accel and Coatue. These developments highlight the ongoing growth and strategic shifts within the AI and tech industries.
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