Goldman Sachs maintains a "buy" rating on Nvidia with a 12-month target price of $200.

Goldman Sachs stated in its latest report that although NVIDIA's latest financial report and guidance for the next quarter are solid and basically in line with Wall Street expectations, it may still be difficult to meet the market's previously high expectations, which could lead to downward pressure on its stock price in the short term. Goldman Sachs analysts believe that the market has largely priced in the growth potential brought by its new generation Blackwell architecture chips. However, Goldman Sachs still maintains a "buy" rating on NVIDIA and has set a 12-month target price of $200. This target price is based on an estimated standardized EPS of $5.75 and a P/E ratio of 35. The report also highlights four key downside risks that investors should be cautious of: a slowdown in AI infrastructure spending, increased competition leading to market share loss, competition leading to a decline in profit margins, and supply chain constraints.