- Ahead of next week's fiscal Q2 report, BofA raises Nvidia's (NASDAQ:NVDA) price target from $460 to $520. NVDA shares are up 1.2% pre-market to $543.20.
- Analyst Vivek Arya expects Q2 results to meet consensus "as data center demand remains resilient, offset somewhat by softness in more cyclical autos and proviz businesses."
- Arya forecasts H2 gaming tailwinds with potential "major growth catalysts" in the new consoles from Microsoft and Sony.
- BofA maintains a Buy rating on Nvidia. Wall Street analysts average out to a Bullish stance, and a $401.42 price target, while SA contributors sit at Neutral.
- Nvidia will report earnings on August 19. Consensus estimates expect $3.66B in revenue and $1.97 EPS. The company has a strong history of beating earnings estimates: