"Barclays updated its price target and EPS for NVIDIA (NVDA) to adjust for the company's 10-1 stock split in a note Monday.
The 10-1 stock split that went into effect this past Friday at market close.
In addition, Barclays revised up its CY25/FY26 revenue expectations to $157.1 billion, reflecting $25 billion in incremental AI product revenue from the Sovereign AI opportunity that they believe will accelerate significantly next year.
"Net-net, this adds $0.61 in EPS on a post-split basis and takes our PT to $145, applying the same 40x P/E multiple to our new $3.62 CY25/FY26 EPS estimate," wrote the bank.
In a note dated May 20, Barclays maintained an Overweight rating on Nvidia (NASDAQ:NVDA), saying its Asia checks pointed to NVDA DC GPU unit upside potential close to 10% in the April quarter and just over 20% in the July quarter as capacity continues to come online.
"Looking forward, the next major step up in revenue will be from the ramp of the GB200," Barclays said at the time. "The company intra-Q spoke very positively of the total mix moving towards the complete GB200 solution for hyperscalers, and we don’t believe this mix shift is fully appreciated."