Nvidia (NVDA) is set to announce its Q2 FY26 earnings on August 27, with Wall Street expecting EPS of $1.00 on revenues of $45.7 billion. Ahead of the report, KeyBanc’s Top analyst John Vinh maintained his Buy rating and raised the price target to $215 from $190. He sees strong July-quarter results, supported by robust demand for AI products and higher server rack shipments thanks to improved manufacturing yields.
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Vinh ranks #168 out of 9,987 analysts tracked on TipRanks. He has a 60% success rate and an average return per rating of 18.90%.
Why Vinh Is Bullish on NVDA Stock
The 5-star analyst highlighted strong growth in NVIDIA’s Blackwell GPU (B200), which saw a 40% rise in supply in the second quarter and is expected to grow another 20% in the third quarter. The company has also started rolling out Blackwell Ultra (B300), which could account for half of all Blackwell shipments in October. At the same time, GB200 rack yields—the share of racks that pass quality checks—are improving at server factories, now close to 85%. As a result, Vinh raised his full-year shipment forecast to 30,000 racks, up from 25,000.
On the financial side, Vinh raised his second-quarter revenue estimate to $47.1 billion from $45.1 billion, above the Street’s $45.7 billion forecast. However, he trimmed the third-quarter forecast to $50.4 billion from $53.5 billion to exclude China’s contributions, slightly below consensus.
Looking at guidance, the analyst believes NVIDIA’s fiscal Q3 outlook will likely exclude direct revenue from China because export licenses are still pending. He also expects management to be cautious due to a possible 15% tax on AI exports and pressure from the Chinese government for local AI providers to use domestic chips. He added that if China revenue were included, guidance could be $2–3 billion higher, driven by shipments of the H20 GPUs and the China-compliant RTX6000D (B40).
What Is the Target Price of Nvidia Stock?
According to TipRanks, NVDA stock has a Strong Buy consensus rating based on 35 Buys, two Holds, and one Sell assigned in the last three months. At $195.85, the Nvidia share price target implies a 11.51% upside potential.
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