Wall Street Analysts Adjust Targets For Nvidia And Tesla Amid Market Movements
Portfolio Pulse from Benzinga Neuro
Wall Street analysts have updated their price targets for Nvidia (NVDA) and Tesla (TSLA), with Nvidia receiving an upward revision due to strong demand in the semiconductor space, particularly in AI/ML hardware, and Tesla's target being lowered due to internal challenges and softening sales in China. Morgan Stanley is bullish on Nvidia, setting a new target of $1,000, while Jefferies has reduced Tesla's target to $165.
April 10, 2024 | 12:14 pm
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Jefferies has lowered Tesla's price target to $165 from $185, citing internal challenges and a decrease in sales in China as the main reasons for the adjustment.
The reduction in Tesla's price target by Jefferies is attributed to internal challenges and declining sales in China, which are significant concerns that could negatively impact Tesla's stock price in the short term. This bearish outlook aligns with broader concerns about Tesla's performance.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Morgan Stanley has significantly increased Nvidia's price target to $1,000, indicating strong confidence in its growth, especially in the Data Center segment driven by AI/ML hardware demand.
The upward revision of Nvidia's price target by Morgan Stanley reflects a strong market demand for its products, particularly in AI/ML, which is a key growth driver. This optimism is likely to positively influence investor sentiment and Nvidia's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90