CICC: Raises NVIDIA's target price to $228, raises revenue forecast for fiscal year 2026.

CICC's report stated that NVIDIA's revenue for the third quarter of the 2026 fiscal year was 57 billion US dollars, an increase of 62% year-on-year; Non-GAAP gross profit margin was 73.6%, a decrease of 1.4 percentage points year-on-year; net profit was 31.8 billion US dollars, an increase of 59% year-on-year. The performance exceeded market expectations and was in line with the bank's expectations. The bank believes that the strong demand for Blackwell products and smooth shipments of the GB300 series products are the reasons for this. Due to the sustained leading position in the market competition, the bank raised NVIDIA's 2026 fiscal year revenue forecast by 3% to 213.6 billion US dollars, while maintaining the Non-GAAP net profit forecast for the 2026 fiscal year; raised the revenue and Non-GAAP net profit forecasts for the 2027 fiscal year by 16% and 13% respectively to 341.5 billion and 191.1 billion US dollars, maintaining an "outperform" rating, and raising the target price by 14% to 228 US dollars.