Nvidia Shares Up 1.7% To New All-Time High; Report Morgan Stanley Raised Price Target On Nvidia From $450 To $500, Maintaining Overweight Rating; Named Nvidia Top Pick Over AMD
Portfolio Pulse from Charles Gross
Nvidia shares rose 1.7% to a new all-time high after Morgan Stanley raised its price target from $450 to $500 and maintained an overweight rating. Nvidia was named the top pick over AMD.
June 16, 2023 | 10:52 am
News sentiment analysis
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NEGATIVE IMPACT
Morgan Stanley named Nvidia as its top pick over AMD, potentially impacting AMD's stock price in the short term.
Although AMD is not directly mentioned in a negative context, Morgan Stanley's preference for Nvidia as the top pick may lead investors to shift their focus from AMD to Nvidia. This could result in a short-term negative impact on AMD's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Nvidia's stock price reached a new all-time high after Morgan Stanley raised its price target to $500 and named it the top pick over AMD.
Morgan Stanley's raised price target and overweight rating for Nvidia indicate a positive outlook for the company's stock. The top pick status over AMD further strengthens the bullish sentiment, leading to a likely short-term increase in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100