Shares of Nvidia Corp. gained 0.5% in premarket trading, after SunTrust Robinson Humphrey analyst William Stein raised his price target, citing evidence of constructive demand trends and expectations of improving profitability. "Of our proprietary semi and component supply chain contacts, multiple pointed to improving demand trends in all end markets: gaming, pro-viz, automotive, and most important, datacenter," Stein wrote in a note to clients. Stein kept his rating at buy, which he's had since July 2017, boosted his target to $216 from $210. The stock's gain comes while the VanEck Vectors Semiconductor ETF slipped 0.1% ahead of the open. Over the past three months, Nvidia shares have rallied 13.8%, the chip sector ETF has advanced 11.0% and the S&P 500 has gained 1.4%. Read More...
Shares of Nvidia Corp. gained 0.5% in premarket trading, after SunTrust Robinson Humphrey analyst William Stein raised his price target, citing evidence of constructive demand trends and expectations of improving profitability. “Of our proprietary semi and component supply chain contacts, multiple pointed to improving demand trends in all end markets: gaming, pro-viz, automotive, and most important, datacenter,” Stein wrote in a note to clients. Stein kept his rating at buy, which he’s had since July 2017, boosted his target to $216 from $210. The stock’s gain comes while the VanEck Vectors Semiconductor ETF slipped 0.1% ahead of the open. Over the past three months, Nvidia shares have rallied 13.8%, the chip sector ETF has advanced 11.0% and the S&P 500 has gained 1.4%.
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