Goldman Sachs maintains the firm’s buy rating with a $250 price target on Nvidia (NVDA) after its Q1 results but believes the stock should trade higher after earnings. The company reported a strong quarter and guidance relative to consensus estimates and against relatively bullish expectations heading into the print, the analyst tells investors in a research note. Nvidia’s capital allocation announcements – buyback increase of $80B and dividend increase – are also “incrementally supportive” of the stock, the firm added.
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