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《大行》高盛升英偉達(NVDA.US)目標價至285美元續籲「買入」 季績勝預期
高盛發表報告指,英偉達(NVDA.US)4月底止首財季業績優於預期,指引強勁疊加資本分配改善,認為資本開支的可持續性為其未來表現跑贏大市提供清晰路徑。該行上調對其每股盈測平均6%,以反映收入預測獲上調,以及稅率較原先預期為低,與公司指引一致。目標價由原先250美元升至285美元,評級「買入」。在強勁的季度業績及遠超市場預期的指引下(而市場在季績前已持樂觀預期...
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《大行》高盛升英偉達(NVDA.US)目標價至285美元續籲「買入」 季績勝預期
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高盛發表報告指,英偉達(NVDA.US)      4月底止首財季業績優於預期,指引強勁疊加資本分配改善,認為資本開支的可持續性為其未來表現跑贏大市提供清晰路徑。該行上調對其每股盈測平均6%,以反映收入預測獲上調,以及稅率較原先預期為低,與公司指引一致。目標價由原先250美元升至285美元,評級「買入」。

在強勁的季度業績及遠超市場預期的指引下(而市場在季績前已持樂觀預期),該行預期該股將溫和上揚。該行認為,鑑於近期超大型雲端業者紛紛上調資本開支預測,投資者在季前的預期已然升高——但該行相信第二季的指引超越了這些預期。該行看到該股在未來數月有更清晰的路徑跑贏大市,這主要受兩大因素驅動。

首先,該行預期超大型雲端業者的資本開支預測將有上調空間,而該行認為這日益具有可持續性,因為隨著Token(詞元)價格趨穩或上漲,英偉達推動每年超過70%的Token成本降幅-這應能改善英偉達客戶的基礎單位經濟效益與利潤率。其次,該行相信英偉達改善後的資本分配(授權回購規模增加800億美元及提高股息)應能增強投資者對該公司的信心,相信公司能在產品創新與生態系統投資之間取得平衡,同時兼顧股東回報。

該行預期英偉達在2027年仍能維持其增長態勢,同時在市場上保持競爭優勢。該行對英偉達2027財年的預測較市場共識高出30%以上。(da/u)(Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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