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Nvidia (NASDAQ:NVDA) stock is experiencing a surge today following a fresh price target set by Jefferies analyst Blayne Curtis.
Jefferies has lifted its price target on NVDA stock from $135 per share to $150 per share. This represents a 27% potential increase from the stock’s previous close and surpasses the analyst consensus of $122.13 per share.
Moreover, Jefferies has reiterated its “buy” rating for NVDA stock, consistent with the analyst consensus based on 44 opinions.
Impetus Behind New NVDA Price Target
In a note to clients reported by StreetInsider, Curtis stated: “We still think it’s too early to call any losers for 2025, but we do see growing concern for AMD’s pipeline. NVDA remains both king and kingmaker – for example, we still see growth for MRVL and ALAB alongside NVDA, but NVDA’s decisions on each generation could materially alter that.”
Tuesday morning sees NVDA stock up 3%, with over 124 million shares traded, remaining below its daily average of about 440 million shares.
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On the date of publication, William White did not have any direct or indirect positions in the securities mentioned. The opinions expressed in this article are solely those of the writer, in accordance with the InvestorPlace.com Publishing Guidelines.
Article printed from InvestorPlace Media, https://investorplace.com/2024/06/jefferies-just-raised-its-price-target-on-nvidia-nvda-stock/.
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