https://finance.yahoo.com/news/buy-nvidia-due-strong-underly…
Mizuho Securities reiterated its buy rating for the chipmaker’s shares and raised its price target, citing solid pricing for its graphics processing units, which are used in the digital currency and graphics card markets.“We believe NVDA continues to see strong underlying trends in cryptocurrency and gaming ahead of company expectations, even as GPU pricing remains stable post launch,” analyst Vijay Rakesh wrote in a note to clients Sunday. Rakesh raised his price target for Nvidia shares to $220 from $180. The new target is 13 percent higher than Friday’s closing price.“We believe NVDA guided the OctQ with expectations of a cool down in the crypto-currency market, but continued GPU pricing strength through the quarter could position it for an upside surprise,” he wrote. Bitcoin hit another record high on Friday to more than $5,800, up over 480 percent year to date. Cryptocurrency miners use graphics cards from AMD and Nvidia to “mine” new coins, which can then be sold or held for future appreciation.Nvidia’s latest chips provide 40 times to 100 times the performance of traditional central processing units for artificial intelligence applications, the analyst noted.
There have been numerous PT increases over the past several weeks. Most of the PT increases now give PTs over $200 per share. We are just shy of $200 now. Earnings are coming out in about 3 weeks…