Argus keeps Nvidia buy rating on strong AI demand

Argus maintained its Buy rating and $270 price target on Nvidia after the company reported strong fiscal Q2 results that beat consensus expectations. Nvidia posted $96.2 billion in Q2 revenue, a 106% year-over-year increase, with adjusted earnings per share of $2.22 surpassing the $2.09 estimate. The company also guided Q3 revenue to $108 billion, about $4 billion above consensus, driven by data center sales up 117%. The stock trades at a price-to-earnings ratio of 32.32 and a PEG ratio of 0.29, suggesting undervaluation relative to growth. Other analysts, including Stifel and Rosenblatt, also raised their price targets, reflecting robust AI demand from hyperscale and enterprise customers.