This banking giant raises Nvidia stock target by 60%

Group 1 - HSBC has raised its Nvidia price target to $200 from $125, indicating a 60% increase, while maintaining a 'Hold' rating, which implies a 16% rally from the current price of $172 [1] - The revision reflects a larger-than-expected AI GPU total addressable market, driven by cloud service providers' capex upgrades, which are up roughly 37% year to date [2] - For 2QFY26, HSBC projects Nvidia will post sales of $46.7 billion, slightly above management's guidance of $45 billion and broadly in line with consensus at $46.3 billion [3] Group 2 - HSBC expects Nvidia's sales for 3QFY26 to be $53.9 billion, near the Street's estimate of $53.3 billion, but does not anticipate significant upward revisions [3] - KeyBanc raised its Nvidia price target to $215 from $190 with an 'Overweight' rating, while Susquehanna lifted its target to $210 from $180, reiterating a positive stance [7] Group 3 - Analysts expect strong fiscal second-quarter results for Nvidia ahead of the August 27 earnings report, but guidance for the October quarter may fall slightly below consensus due to pending license approvals affecting China revenue [6] - Excluding China, Nvidia could be leaving $2–3 billion in potential near-term sales off its outlook, primarily from H20 and RTX6000D demand [6]