NVDA - RBC SEES SOLID QUARTER AHEAD FOR NVIDIA, REITERATES $240 TARGET RBC Capital Markets reiterated an Outperform rating and $240 price target on NVIDIA, forecasting a strong quarterly report. Analyst Srini Pajjuri expects a 3–4% beat and raise, with potential upside to Nvidia’s previously cited $500B+ 2025/26 backlog. Gross margins are seen as resilient despite rising memory prices, as 2026 HBM pricing is believed to be locked in. Upcoming catalysts include Blackwell-related launches and GTC, while supply-chain checks suggest robust growth for Rubin extending into 2027. China (H200) is not included in estimates, and shares trade at a double-digit discount to peers and the “Mag 7,” RBC said.(*Walter Bloomberg)