Nvidia Surges 5% To Another Record After Price Target Raised
Nvidia Corp. stock, which closed at a record high Thursday, jumped more than 5% in Friday's session after another price target increase. Susquehanna analyst Christopher Rolland boosted his target on Nvidia stock from $110 to $140 after finding that the average selling prices for Nvidia's graphics-processing units increased in the second quarter, which "can help reinvigorate growth in their largest end markets," he wrote. Nvidia gained more than 7% on Thursday after Citi raised its price target on the stock to a Street-high $180. The average price target on Nvidia -- $127.27, according to FactSet -- trails the going price by more than 30%, though a slight majority of analysts who follow the company rate the stock the equivalent of a buy. Nvidia jumped to an intraday record of $168.50 early in Friday's session, 5.4% higher than Thursday's close.
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