Morgan Stanley analysts have raised their forecast for Nvidia Corp. shares from $200 to $206. At the same time, they confirmed their “above market” recommendation.
The graphics processor manufacturer will publish its report for the second quarter of fiscal year 2025 (ended in July) on August 27.
Expectations have risen ahead of Nvidia’s report, and “this is entirely justified,” according to the bank’s analysts, who expect the company to report strong results for the past period and strong forecasts for the year.
Morgan Stanley expects Nvidia’s revenue in the second fiscal quarter to be $46.6 billion (previous forecast — $45.2 billion) and to rise to $52.5 billion in the third fiscal quarter (previously forecast at $51.3 billion).
The company’s revenue in the second quarter of fiscal year 2025 was $30.04 billion.
The chipmaker’s market capitalization has grown by 33% over the past three months (to $4.4 trillion), while the Nasdaq Composite stock index has added 12.6%.