Raymond James and RBC Capital raise price targets on NVIDIA after stronger-than-expected Q1 results and robust Q2 guidance

On May 21, Raymond James raised its price target on NVIDIA to $330 from $323 with a Strong Buy rating, citing stronger-than-expected first-quarter results and robust second-quarter guidance driven by accelerating inference-related demand. RBC Capital raised its price target to $270 from $250 with an Outperform rating on the same day.

NVIDIA announced an $80 billion share repurchase authorization and increased its dividend from $0.01 to $0.25 per share. The company has approximately $20 billion in revenue visibility tied to its Vera CPU platform, with expected Rubin product ramp-ups in the third quarter.

NVIDIA develops advanced semiconductors and full-stack software solutions for artificial intelligence, gaming, data center infrastructure, and autonomous vehicle technologies. The company invented the graphics processing unit (GPU) and pioneered accelerated computing.