Nvidia Analyst Sees 42% Upside To Stock With 2nd Price Target Boost This Week After Stellar Q2
Portfolio Pulse from Shanthi Rexaline
Nvidia Corp.'s stock received a second price target boost this week from KeyBanc Capital Markets analyst John Vinh, who raised the target from $620 to $670, suggesting a 42% upside. This follows a stellar Q2 where Nvidia's Data Center revenues jumped over 170% YoY to a record $10.32 billion. The company also signaled that visibility extends into 2024, prompting it to seek additional suppliers and plans to increase supply each quarter through next year to meet demand.
August 24, 2023 | 9:03 am
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Nvidia's stock received a price target boost from KeyBanc Capital Markets, suggesting a 42% upside. This follows a strong Q2 performance with Data Center revenues jumping over 170% YoY.
The price target boost from KeyBanc Capital Markets suggests a strong confidence in Nvidia's performance. The company's Q2 earnings exceeded expectations, particularly in its Data Center revenues, which jumped over 170% YoY. This strong performance, along with the company's plans to increase supply to meet demand, indicates a positive outlook for the company's stock.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100