Nvidia stock price target raised to $215 from $190 at KeyBanc

Investing.com - KeyBanc raised its price target on Nvidia (NASDAQ:NVDA) to $215 from $190 while maintaining an Overweight rating ahead of the company’s second-quarter fiscal 2025 results. The stock, currently trading near its 52-week high of $184.48, has demonstrated remarkable strength with an 86% revenue growth over the last twelve months. InvestingPro analysis indicates the stock is trading above its Fair Value, though it maintains an EXCELLENT financial health score.

The firm expects Nvidia to report strong second-quarter results but anticipates third-quarter guidance slightly below consensus as the outlook will likely exclude direct revenue from China due to pending license approvals and timing uncertainty. With earnings scheduled for August 27, InvestingPro subscribers can access 20+ additional exclusive insights and detailed financial metrics to better prepare for this crucial announcement.

KeyBanc noted that if Nvidia were to include China in its guidance, it would contribute an additional $2-3 billion in revenue, driven by H20 and RTX6000D (B40) products.

The firm identified key earnings drivers including the continued ramp of Blackwell (B200), where GPU supply grew 40% in the second quarter and is projected to increase another 20% in the third quarter, along with the ramp of Blackwell Ultra (B300) in the third quarter.

KeyBanc also cited improving GB200 rack manufacturing yields as a positive factor, increasing its calendar year 2025 GB rack shipment estimate to 30,000 from its previous estimate of 25,000.

In other recent news, Nvidia is set to announce its fiscal second-quarter 2026 earnings, with Deutsche Bank (ETR:DBKGn) maintaining a Hold rating and a $155 price target on the company’s stock. TD Cowen has raised its price target for Nvidia to $235 from $175, citing the chipmaker’s strong fundamentals and smooth transition between its Blackwell and Blackwell Ultra products. The firm continues to recommend a Buy rating despite concerns over the company’s H20 chip and business dealings in China. Meanwhile, US Commerce Secretary Lutnick has expressed interest in converting funding for Intel (NASDAQ:INTC) into an equity stake, as the United States seeks to reduce reliance on Taiwan for semiconductor manufacturing. This move underscores the strategic importance of Intel in the American semiconductor landscape. JPMorgan strategists have noted that upcoming events, such as Nvidia’s earnings and the Jackson Hole Symposium, could have a more significant impact on US equity markets compared to European ones. These developments highlight the dynamic nature of the semiconductor industry and its influence on global markets.

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