Mizuho raises Nvidia price target to $315 on strong demand

Mizuho raised its price target for Nvidia to $315 from $300, maintaining an Outperform rating. The new target is based on roughly 20 times fiscal 2028 earnings. Nvidia reported July quarter revenue of $96.2 billion and earnings per share of $2.22, with an October quarter forecast of $108 billion. Mizuho estimates fiscal 2028 revenue will reach about $700 billion, up over 70% year-over-year and well above consensus. The analyst cited strong demand, with revenue rising 100% year-over-year while supply remains tight. Data center revenue hit approximately $89 billion in the July quarter, up 18% sequentially.