Nvidia target price lifted to Street-high $315 at Jefferies

Nvidia Corp. shares are up 1% in premarket trading Wednesday after Jefferies analyst Mark Lipacis lifted his price target to $315, the highest target listed on FactSet, ahead of the company's Thursday afternoon earnings report. His prior target price was $255. "We expect Nvidia to report positive trends in its [data-center] business," he wrote, as cloud players Amazon.com Inc. , Microsoft Corp. , and Facebook Inc. all reported sequential growth in capital spending for the fourth quarter. "This is consistent with Nvidia's commentary at CES suggesting strength in data-center revenues in 4Q19 and 1Q20," Lipacis wrote. Another target hike came from Susquehanna analyst Christopher Rolland, who raised his price target to $310 from $285, with his new target now the second highest listed on FactSet. "While Intel was cautious in its data-center forecast for the rest of 2020, we expect Nvidia to release new data-center GPUs in 2020 (likely at GTC) that should reaccelerate growth in this segment upon launch," Rolland wrote. Shares have added 28% over the past three months, as the S&P 500 has climbed 8.6%. Read More...