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Goldman Sachs Expects Nvidia To ‘Sustain Competitive Lead,’ Raises Price Forecast To $1,200 Following Stellar Q1 Earnings

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Goldman Sachs has increased its one-year price forecast for Nvidia Corp. (NASDAQ:NVDA) from $1,100 to $1,200.

Analysts Toshiya Hari maintains a ‘Buy’ rating after the chipmaker reported remarkable earnings for the first quarter (Q1) of the year.

Hari also highlighted that Nvidia’s data center revenue growth surged 427% year-over-year. That was a key driver for this upgraded bullish outlook.

“We believe the pace of innovation at which Nvidia is moving will allow the company to sustain its competitive lead,” Hari wrote in a note published on Thursday.

In sum, Nvidia’s latest earnings report not only showcased its strong performance but also highlighted its potential for continued growth.

Chart: Goldman Sachs Hikes Nvidia’s Price Target To $1,200

Read also: Nvidia Q1 Results Prove AI Revolution Is ‘Real’ And Jensen Huang-Led Company Is The ‘Beneficiary,’ Says Analyst

Strong Earnings And Future Guidance …

Full story available on Benzinga.com

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