Investing.com — Nvidia (NASDAQ:NVDA) jumped almost 6% after Susquehanna gave it a Street-high price target.
Analyst Christopher Rolland raised his price target to $540 from $450 two days before the chip manufacturer reports second quarter earnings, according to Seeking Alpha.
Nvidia should raise its outlook on Ampere gaming GPUs, offsetting a slowdown in H2 data centers, Seeking Alpha reported Rolland as saying.
Oppenheimer’s Rick Schafer also boosted his price target to $500 from $400, expecting strong results this week.
Shares have almost tripled over the past year.
Nvidia is expected to report earnings per share of $1.98 on sales of $3.65 billion when it publishes results this week.
The stock has 26 buy ratings, three holds and one sell.