Raymond James Analyst Raises Record High Price Target on Nvidia Stock
Nvidia (NVDA) delivered a strong earnings report, surpassing Wall Street expectations with sales more than doubling and adjusted profit exceeding estimates. Raymond James analyst Simon Leopold raised his price target for the stock to $515 from $352—a significant increase of 46%—reiterating a Strong Buy rating. Leopold's new target implies over 100% upside from Nvidia’s closing price and values the company at an astonishing $12.4 trillion, far exceeding its current market cap of around $5.49 trillion. His forecast is notably higher than Wall Street consensus estimates and other major banks' revised targets following the earnings report. The analyst argues that supply constraints—not demand—are currently limiting Nvidia’s growth potential. He models a more aggressive revenue trajectory for fiscal 2028, projecting 70% year-over-year sales growth compared to previous forecasts of around 45%. Despite recent gains and market volatility, Leopold believes the company's scale is still underestimated by investors.
Tickers: $NVDA
Topics: Earnings Performance Nvidia Stock Price Prediction Wall Street Analysts