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<Research>CICC Raises Nvidia TP to US$228 as 3Q Results Beat Again
Recommend 2 Positive 1 Negative 0 |
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Nvidia (NVDA.US) reported 3QFY26 revenue of US$57 billion, marking a 62% YoY elevation, CICC's research report indicated. The non-GAAP gross margin was 73.6%, down 1.4 ppts YoY. The net profit attributable to shareholders was US$31.8 billion, up 59% YoY, topping street consensus and aligning with the broker's forecast. CICC attributed this to robust demand for Blackwell products and smooth shipments of the GB300 series. In light of its sustained competitive market position, CICC raised Nvidia's 2026 revenue forecast by 3% to US$213.6 billion, while maintaining the non-GAAP net profit forecast for the same fiscal year. The revenue and non-GAAP net profit forecasts for 2027 were increased by 16% and 13% to US$341.5 billion and US$191.1 billion, respectively. CICC maintained an Outperform rating and raised the target price by 14% to US$228 for Nvidia, corresponding to a 29.2x 2027 P/E, with an upside potential of 22%. AASTOCKS Financial News Website: www.aastocks.com |
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