CLSA published a report covering NVIDIA (NVDA.US), the stock price of which has elevated approximately 7-8% over the past six months, lagging behind other foundational AI peers such as TSMC (up 73%) and memory-related stocks (up 180-300%).

CLSA believed NVIDIA offers attractive value, and the capex announced by hyperscale data centers confirm that AI infrastructure development is still accelerating. The broker spotted the upcoming earnings release as an opportunity to reinvigorate the narrative.

The broker expected revenue for 4QFY26 to be USD67.2 billion, representing a 71% YoY growth, exceeding the guidance upper limit of USD66.3 billion. This would indicate an acceleration in revenue growth. Although the current forecast for 1QFY27 is USD72.7 billion, representing a 65% YoY rise, any guidance equal to or above USD75 billion would reinforce the message of accelerating revenue growth. The broker assigned NVIDIA a High Conviction Outperform rating with a target price of USD300.
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SG Top Picks
Stock & Type	Code	Strike(Call Level)	Last	Effective Gearing
Nvidia (C)	10055	230 (-)	0.063	10.1 X
Nvidia (C)	11007	205 (-)	0.315	4.9 X
Nvidia (P)	10057	165 (-)	0.080	7.5 X