More than 20 brokerages raised their target price for Nvidia post the earnings update, according to Refinitiv data, with Elazar Advisors being the most bullish at $1,600. Along with Rosenblatt Securities at $1,100 - they are the only ones to have targets above $1,000 for Nvidia. Nvidia has been the biggest beneficiary of the rise of ChatGPT and other generative AI apps, virtually all of which are powered by its graphics processors.
- Frankfurt-listed shares of Nvidia jumped 8.7% on Thursday, lifting tech shares around the world, after the company forecast quarterly revenue that smashed expectations and announced a $25 billion buyback.
More than 20 brokerages raised their target price for Nvidia post the earnings update, according to Refinitiv data, with Elazar Advisors being the most bullish at $1,600.Along with Rosenblatt Securities at $1,100 - they are the only ones to have targets above $1,000 for Nvidia. The chipamker's median price target is $567.
Its shares have tripled in value this year, adding more than $700 billion to market valuation and making it the first trillion-dollar chip firm. "Given the magnitude of earnings revisions we suspect the stock will still come out cheaper than it was going into the print."
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