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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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
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