Nvidia: shares up after brokers raise target prices
(CercleFinance.com) - Nvidia shares have risen by up to 1.
5% to 272 dollars on Wednesday, after several brokerages raised their target prices for the US graphics chip maker ahead of its quarterly report tomorrow.
By 10 am local time, Nvidia shares were up 0.6% at 269.5 dollars. They have risen by almost 15% year-to-date.
This morning Wedbush Securities raised its target price for the chipmaker from 243 dollars to 295 dollars, maintaining its "outperform" rating on the stock, citing probable upside in the company's datacenter sales in light of recent stronger hyperscale buying trends.
Meanwhile, Jefferies also raised its target price for Nvidia to 315 dollars from 255 dollars, sticking with its "buy" rating on the stock, also expecting the company to report positive trends in its datacenter business.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
5% to 272 dollars on Wednesday, after several brokerages raised their target prices for the US graphics chip maker ahead of its quarterly report tomorrow.
By 10 am local time, Nvidia shares were up 0.6% at 269.5 dollars. They have risen by almost 15% year-to-date.
This morning Wedbush Securities raised its target price for the chipmaker from 243 dollars to 295 dollars, maintaining its "outperform" rating on the stock, citing probable upside in the company's datacenter sales in light of recent stronger hyperscale buying trends.
Meanwhile, Jefferies also raised its target price for Nvidia to 315 dollars from 255 dollars, sticking with its "buy" rating on the stock, also expecting the company to report positive trends in its datacenter business.
Copyright (c) 2020 CercleFinance.com. All rights reserved.