Nvidia price target raised to $250 from $220 at JPMorgan

JPMorgan raised the firm’s price target on Nvidia to $250 from $220 and keeps an Overweight rating on the shares. The company reported Q4 above consensus on better than expected gaming which more than offset softer data center sales, the analyst tells investors in a research note. The firm believes Nvidia is setup for solid growth in 2023 despite a softer macro environment, driven by the strong product cycles and end market diversification.