Mizuho raises Nvidia price target to $315 on strong demand

Mizuho raised its price target on Nvidia stock to $315 from $300, maintaining an Outperform rating, citing strong demand and robust earnings. Nvidia reported July quarter revenue of $96.2 billion and earnings per share of $2.22, beating estimates, with October guidance of $108 billion. Mizuho projects fiscal 2028 revenue near $700 billion, up over 70% year-over-year, citing strong Blackwell Ultra ramps and Vera Rubin shipments. Demand is up 100% year-over-year while supply remains tight. October gross margins are guided down to 74%, expected to bottom at 71-72% in January. Other analysts also raised targets, with KeyBanc at $330 and JPMorgan at $320.