The Ratings Game: Nvidia stock eyes new high as record data-center sales prompt analyst love fest [MarketWatch]
MELLANOX TECHNOLOGIES (MLNX)
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Source: MarketWatch
Nvidia stock eyes new high as record data-center sales prompt analyst love fest Nvidia Corp.’s stock surged Friday as analysts practically wrote Valentine’s Day notes for the company and raised their price targets after the chip company barreled past expectations in data-center sales following a tough year of revenue declines. Nvidia NVDA, +8.00% stock surged to an intraday high of $294.40, and was last up 8.2% at $293.04, on track for its first record close in nearly a year and a half. Nvidia’s stock closed at a record $289.36 on Oct. 1, 2018. In comparison, the S&P 500 index SPX, +0.15% and the tech-heavy Nasdaq Composite Index COMP, +0.27% were both up around 0.1%, and the PHLX Semiconductor Index SOX, +0.35% rose 0.3%. Of the 39 analysts who cover Nvidia, 28 have buy or overweight ratings, nine have hold ratings and two have sell or underweight ratings. Of those, 21 analysts hiked price targets for an average $297.17, or 13% higher than the previous day’s average of $
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