Why Wall Street is boosting forecasts for Nvidia stock even higher after a lukewarm reaction to earnings

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their price targets on the stock.For a company like Nvidia, which is used to blowing the doors off earnings reports, Wednesday wasn't the best day.While the chipmaking giant beat second-quarter revenue and earnings, the vibes were lukewarm at best, and the move in the stock price showed it.Shares quickly slid as much as 4% in the after-market before recovering a bit. They remained about 1% lower in regular Thursday trading.But if there's anything to worry about, analysts are shrugging it off. The broad consensus across Wall Street is that Nvidia's earnings report was good enough to unlock further stock upside in the future.Below is a sampling of this bullish push — five banks that raised their price targets in the immediate aftermath of Nvidia earnings, and why they did so.Rating: OverweightNew price target: $215 (up from $170)Reasoning: JPMorgan sees enough demand for Nvidia's Blackwell products to support the company's revenue guidance of $54 billion for the following quarter.Demand for Nvidia's H20 chip, meanwhile, could provide as much as $2 billion to $5 billion in extra revenue for the following quarter, analysts estimated, despite uncertainty surrounding US trade restrictions with China."Overall, we believe NVIDIA's 12-month forward order book continues to outstrip supply," the bank wrote in a client note. "All in, the playbook remains the same here for NVDA - a solid beat and raise with multiple levers at play to drive upside, against the backdrop of a multi-year runway of growth for AI infrastructure spending, with NVDA in our view continuing to capture a significant majority of the incremental spend," it added.Rating: NeutralNew price target: $195 (up from $135)Reasoning: DA Davidson, which once said it believed 2025 would be a "peak year" in the AI cycle, said it no longer believed that to be the case."While we are maintaining our Neutral rating we would like to highlight our perspective on NVDA has shifted quite a bit over the last 6 months," analysts wrote in a note on Thursday. "We now believe demand growth for inference will sustain for the foreseeable future," it added, pointing to progress made on AI models over the last year.Rating: BuyTerms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,460.26 -41.60 (-0.64%)Dow 3045,544.88 -92.02 (-0.20%)Nasdaq21,455.55 -249.61 (-1.15%)Russell 20002,366.42 -11.99 (-0.50%)VIX15.36 +0.93 (+6.44%)Gold3,516.10 +41.80 (+1.20%)PortfolioSign in to access your portfolioSign inTop gainersAMBA Ambarella, Inc. 82.48 +11.85 (+16.78%)IREN IREN Limited 26.48 +3.44 (+14.93%)BABA Alibaba Group Holding Limited 135.00 +15.43 (+12.90%)AFRM Affirm Holdings, Inc. 88.46 +8.47 (+10.59%)DOOO BRP Inc. 62.98 +5.49 (+9.55%)Top losersMRVL Marvell Technology, Inc. 62.87 -14.36 (-18.60%)CHA Chagee Holdings Limited 19.11 -2.89 (-13.14%)RMBS Rambus Inc. 73.77 -7.32 (-9.03%)DELL Dell Technologies Inc. 122.15 -11.90 (-8.88%)BLSH Bullish 59.03 -5.40 (-8.38%)Most activeWBA Walgreens Boots Alliance, Inc. 11.98 0.00 (0.00%)OPEN Opendoor Technologies Inc. 4.4500 +0.1800 (+4.22%)NVDA NVIDIA Corporation 174.18 -5.94 (-3.30%)LCID Lucid Group, Inc. 1.9800 -0.0900 (-4.35%)MRVL Marvell Technology, Inc. 62.87 -14.36 (-18.60%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersBABA Alibaba Group Holding Limited 135.00 +15.43 (+12.90%)BTC-USD Bitcoin USD 108,522.55 -2,682.69 (-2.41%)ORCL Oracle Corporation 226.13 -14.19 (-5.90%)^IXIC NASDAQ Composite 21,455.55 -249.61 (-1.15%)FLYY Spirit Aviation Holdings, Inc. 1.2200 -0.0300 (-2.40%)Top economic events