Bernstein SocGen Group analyst Stacy A. Rasgon raised the price target on NVIDIA (NASDAQ: NVDA) to $315.00 (from $300.00) while maintaining a Outperform rating.

The analyst comments: “The quarter was strong and on the surface was actually fairly quiet (for NVIDIA at least), with the typically powerful results that investors have grown to expect, as well as the capital return (both buyback and dividend) that we believe some shareholders have been waiting for. And yet there was also plenty to keep things moving here. Demand clearly remains off the charts for Blackwell, with Rubin on track to launch in Q3 and with continued confidence in the $1T Blackwell/Rubin trajectory into CY27. The new datacenter segmentation gives more color and clarity into an increasingly diverse customer base with both hyperscale and non-hyperscale growing strongly. And with line of sight to $20B+ in standalone Vera CPU revenues this year (we assume rack-level, but fine...), the company seems set to potentially become the CPU king with a possible business as big or even bigger than their more traditional competitors in an overall new (incremental) TAM they size at $200B.

Given the growth potential and current valuations we continue to believe there is opportunity for NVDA to re-rate relative to the “AI constraint” names that have been running instead of it. Raising estimates, price target to $315 (25x, unchanged applied to higher FY28/CY27 EPS). We rate NVDA Outperform.”