Nvidia Corp.'s stock price target was raised by 19% to $190, from $160, by Deutsche Bank analyst Ross Seymore, citing expectations that optimism over the graphics chip company's ability to address a wide array of rapidly growing sectors will "remain high" into next year. Seymore reiterated his hold rating, however, citing valuation. The stock has run up 34.8% over the past three months through Friday, while the PHLX Semiconductor Index has gained 18.6% and the S&P 500 has tacked on 6.0%, which Seymore attributes to investors betting on Nvidia's "strong" track record of beating earnings expectations by wide margins. The company reports fiscal third-quarter results after Thursday's (Nov. 14) closing bell. Seymore said while Nvidia's beat trend has become more muted in the last year, he sees potential for "modest upside" in its Q3 results, with Q4 results likely seeing positive follow-through. The stock slipped 0.6% in premarket trading. Read More...
Nvidia Corp.’s stock price target was raised by 19% to $190, from $160, by Deutsche Bank analyst Ross Seymore, citing expectations that optimism over the graphics chip company’s ability to address a wide array of rapidly growing sectors will “remain high” into next year. Seymore reiterated his hold rating, however, citing valuation. The stock has run up 34.8% over the past three months through Friday, while the PHLX Semiconductor Index has gained 18.6% and the S&P 500 has tacked on 6.0%, which Seymore attributes to investors betting on Nvidia’s “strong” track record of beating earnings expectations by wide margins. The company reports fiscal third-quarter results after Thursday’s (Nov. 14) closing bell. Seymore said while Nvidia’s beat trend has become more muted in the last year, he sees potential for “modest upside” in its Q3 results, with Q4 results likely seeing positive follow-through. The stock slipped 0.6% in premarket trading.
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