AI chipmaker Nvidia (NVDA) on Monday began trading after its 10-for-1 stock split and received price-target hikes from three Wall Street analysts. Nvidia stock rose on the news.
Barclays, Susquehanna and TD Cowen upped their price targets on the graphics-chip leader.
Barclays analyst Tom O'Malley raised his price target on Nvidia stock to 145 from a split-adjusted 120. He reiterated his overweight, or buy, rating on Nvidia.
The price hike reflects Nvidia's incremental sales opportunity from sovereign nations buying its AI chips, O'Malley said in a client note. He believes that particular market will accelerate significantly next year.
Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
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