HSBC hikes Nvidia price target ahead of earnings, sees 80% upside

  • 📰 CNBC
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 72%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Analyst Frank Lee raised his target price on the stock to $780 from $600.

Lee's forecast implies more than 80% upside from Friday's $432.99 close. He also reiterated a buy rating on the semiconductor company. Nvidia has been the stock to watch all year, gaining more than 196% thanks to excitement around artificial intelligence. Lee thinks that trend will carry on.

mountain NVDA shares year to date "Although market expectations have clearly risen for Nvidia and the overall AI supply chain, we expect bullish AI server momentum continued to surpass market expectations," he said in a note. "We continue to see strong demand that continues to outpace supply, especially with regard to AI GPU shipments." The company will report second-quarter results Wednesday after the bell. Lee thinks Nvidia will once again beat Wall Street expectations.

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 12. in SE
 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Here's the trade on Nvidia ahead of earnings, according to analystsAhead of earnings Wednesday, analysts are weighing in on the forthcoming report and how to trade the earnings.
Källa: CNBC - 🏆 12. / 72 Läs mer »