<Research>BOCOMI: NVIDIA's Long-Term Growth Outlook Strengthened; Price Target Increased to USD260

NVIDIA's Financial Performance: BOCOM International reported NVIDIA's revenue for 4QFY26 at USD68.1 billion, exceeding previous guidance and street consensus, with a non-GAAP gross margin of 75.2%.

Future Revenue Guidance: Management indicated potential quarter-over-quarter revenue growth for 2026 but did not specify the growth rate, while the first batch of Vera Rubin products has been sampled to customers.

Revised Revenue Forecasts: The broker raised NVIDIA's revenue forecasts for FY27 and FY28 to USD354.5 billion and USD455.7 billion, respectively, along with increased non-GAAP EPS forecasts to USD8.06 and USD10.52.

Stock Price Target: The target price for NVIDIA's stock was increased to USD260, with the broker considering the stock price to be attractive.