Broker: iFAST
Date of Report: 10 Mar 2026
Excerpt from iFAST report.
Report Summary
- Stock: Nvidia (NASDAQ: NVDA)
- Action: Neutral stance maintained
- Target Price: \$220
- Key Ideas:
- Nvidia delivered strong Q4 FY26 results, with revenue of \$68.1B (+73% y/y), driven mainly by its Data Centre business and insatiable demand for the new Blackwell architecture.
- Despite beating earnings expectations, the share price has remained flat or declined due to already lofty investor expectations and limited upside surprise potential at current valuations.
- The company gave aggressive Q1 FY27 revenue guidance of \$78B, signaling continued strong demand, but also assumes zero Data Centre compute revenue from China.
- Gross margin remains robust at 75%, but rising costs (notably HBM memory and packaging) and increased competition could pressure margins in the coming years.
- Supply chain constraints, particularly at TSMC, and hyperscaler CAPEX sustainability limit further upside surprises.
- Valuation adjusted: Forward PE multiple lowered to 28x (from 30x) due to the market transitioning past peak expectations. Target price set at \$220 based on FY28 EPS estimate of \$8.00.
- Implication: Investors are advised to maintain core long-term holdings but avoid overexposure or chasing momentum at current valuations. The easy phase of multiple expansion is likely over, and future upside is more dependent on execution than hype.
above is an excerpt from a report by iFAST. Clients of iFAST can be the first to access the full report from the iFAST website : https://secure.fundsupermart.com/fsmone/
