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<Research>G Sachs Raises NVIDIA TP to USD285, Reiterates Buy; Quarterly Results Beat
NVIDIA Corporation (NVDA.US) delivered better-than-expected results for its first fiscal quarter ended April, with strong guidance and improved capital allocation, Goldman Sachs sa...
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<Research>G Sachs Raises NVIDIA TP to USD285, Reiterates Buy; Quarterly Results Beat
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NVIDIA Corporation (NVDA.US)      delivered better-than-expected results for its first fiscal quarter ended April, with strong guidance and improved capital allocation, Goldman Sachs said in its report. The broker believed the capex sustainability provides a clear path for the company's outperformance in the future.

The broker raised its EPS forecasts by an average of 6% to reflect higher revenue projections and a lower-than-expected tax rate, in line with company guidance. The TP was lifted from USD250 to USD285, with a Buy rating.

Related NewsDurable Goods Orders MoM for Apr in the United States is 7.9%, higher than the previous value of 1.3%. The forecast was 3.5%.
Given the strong quarterly results performance and guidance that sharply beat market expectations (despite already upbeat pre-earnings sentiment), the broker estimated the stock to trend moderately higher.

Goldman Sachs noted that investor expectations had already risen ahead of the results amid upward revisions to capex forecasts by hyperscale cloud operators. However, it viewed second-quarter guidance surpassed these elevated expectations.
(Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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