markets

Luke Kawa8/28/25

Traders might not be too impressed by Nvidia’s earnings report, but Wall Street analysts sure are

A largely ho-hum set of second-quarter results from Nvidia, with modest top- and bottom-line beats and guidance slightly ahead of expectations, isn’t lifting the shares today.

But the numbers were enough to fortify Wall Street’s confidence in where the stock is headed: higher.

The sell side is continuing its pre-earnings trend of big boosts to Nvidia price targets with even more of the same. The shops increasing their outlook for how high the chip designer’s stock can climb include:

to $235 from $220 at Bank of America
to $230 from $215 at KeyBanc
to $228 from $210 at Truist
to $225 from $185 at Bernstein
to $220 from $190 at Benchmark
to $215 from $170 at JPMorgan
to $215 from $200 at Rosenblatt
to $210 from $206 at Morgan Stanley
to $210 from $190 at Citi
to $205 from $200 at Jefferies
to $180 from $155 at Deutsche Bank

The Street is overwhelmingly in the bull camp on Nvidia, with 73 “buy” ratings, seven with “hold,” and just one “sell” rating among analysts surveyed by Bloomberg. Over the past month, the average price target is up nearly 13%, its fastest growth since the period following Nvidia’s fiscal Q3 2025 report last November.

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Tasha Matsumoto

Stocks rebound as tariff fears ease

Stocks clawed back some, but not all, of Friday’s losses after Trump signaled softening in his China stance.

Chicago Bulls Dennis Rodman (91) and Michael Jordan (23) in action, rebounding vs Charlotte Hornets

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J. Edward Moreno10h

markets

Micron jumps after rare double upgrade by BNP Paribas Exane, which lifts price target to Street high of $270

Micron, the best-performing member of the VanEck Semiconductor ETF this year, is jumping on Monday thanks to converting its biggest doubter on Wall Street into its biggest fan.

BNP Paribas Exane analyst Karl Ackerman went through with a rare double upgrade of the memory chip specialist to “outperform” from “underperform.” In the process, he more than doubled his price target on the stock to $270 — the highest among analysts surveyed by Bloomberg — from $100, which had previously been the lowest price target on the Street.

“We now fully embrace high-bandwidth memory (HBM) as a sustainable, separate growth vector, and we beleive we are in the early innings of a memory supercycle,” he wrote.

Separately, analysts at Evercore ISI also boosted their price target on Micron to $137 from $100.

markets

IonQ soars after announcing “significant advancement in quantum chemistry simulations”

IonQ is ripping higher in early trading after the quantum computing company announced “a significant advancement in quantum chemistry simulations.”

In particular, this demonstration, performed in collaboration with a major automotive manufacturer, was more accurate than classical computing in calculating “nuclear forces at critical points where big changes occur.”

Knowing how different compounds behave and respond to force has potentially very useful commercial applications because it helps us discern how those materials can best be designed and utilized for different purposes.

“This research demonstrates a clear path for quantum computing to enhance chemical simulations that are foundational to decarbonization technologies,” said Niccolo de Masi, chairman and CEO. “Our work goes beyond academic benchmarks. It demonstrates a practical capability that can be integrated into molecular dynamics workflows used across pharmaceuticals, battery, and chemical industries.”

IonQ is the most commercially advanced pure-play quantum computing company, generating over $52 million in revenues over the past 12 months, well more than D-Wave Quantum, Rigetti Computing, and Quantum Computing combined.

Now, is this the reason why IonQ (and its peers) are on a tear today? Maybe. There’s a big rebound in most speculative pockets of the market after Friday’s tariff threat induced a tumble.

At the very least, this is a useful excuse. Traders have been exceedingly happy to bid up shares of quantum computing companies on their long-term potential, often (ironically) through short-term call options.

markets

Matt Phillips14h

Rocket Lab may be “alternative to SpaceX in the making,” says Morgan Stanley

Rocket Lab surged early Monday after Morgan Stanley analysts lifted their price target on the stock to $68 from $20, making them the high bidder among analysts covering the popular, but still money-losing, commercial space launch company.

The $68 target — right around where the shares are currently trading — is the highest among the 17 analysts tracked by FactSet.

And while Morgan Stanley analysts couldn’t bring themselves to upgrade the stock to a “buy,” leaving their rating at “equal weight,” they gave the stock a pretty bullish review, writing:

“We see a potential alternative to SpaceX in the making. The company is mirroring SpaceX’s footsteps in a number of respects, including scaling up rocket lift capacity, embracing booster reusability, and ultimately moving out on a constellation of its own (ala Starlink). Meanwhile, successive Electron launches and a growing manifest reinforce the company’s already-impressive track record. The market, in our view, is now taking valuation cues for RKLB from SpaceX’s implied valuation, which has grown from a reported ~$100bn at the end of 2021 to ~$400bn today.”

Rocket Lab shares have emerged as a favorite of retail traders this year, thanks to their gain of more than 150%. The stock is up roughly 600% over the last 12 months.

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