NVIDIA shares are trading higher amid continued strength in semis following TSMC's recent earnings. Raymond James also raised its price target on the stock form $600 to $700.
Portfolio Pulse from Benzinga Newsdesk
NVIDIA shares are experiencing an uptick due to the overall positive performance in the semiconductor sector, following strong earnings from TSMC. Additionally, Raymond James has increased its price target for NVIDIA from $600 to $700.
January 19, 2024 | 5:30 pm
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POSITIVE IMPACT
NVIDIA's stock is trading higher, buoyed by the semiconductor industry's strength and a raised price target from Raymond James.
NVIDIA's stock is likely to see a positive short-term impact due to the halo effect of TSMC's strong earnings indicating a robust semiconductor market. The raised price target by Raymond James further adds to investor confidence, suggesting a higher valuation for NVIDIA.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100