Nvidia’s share price target is boosted at Deutsche Bank, but analysts warn of ‘super bull’ scenarios

0
54


Shares of Nvidia Corp. NVDA,
+ 1,96%
rose 0.5% in pre-market trading on Thursday, as Deutsche Bank analyst Ross Seymore raised his price target to $ 500 from $ 450, saying he expects that that the semiconductor maker reports a “strong beat” with third quarter results and provide an optimistic outlook for the fourth quarter. Nvidia is expected to release its third quarter results on Nov. 18, with a FactSet consensus for EPS of $ 2.57 and revenue of $ 4.41 billion. However, Seymore cautioned investors against “super-bull case scenarios” as the data center may be an issue given Intel Corp’s INTC.
-1,88%
problems there and because the rise in play may be capped by supply constraints. Seymore reiterated its hold rating, with its new target being 6.8% below Wednesday’s closing price of $ 536.72. ” While [Nvidia] continues to hit on all cylinders in an otherwise tough macro environment, we believe a lot of that goodness is reflected in its share price… and at such a valuation, fear that an inevitable pause in growth… appears to be insufficiently updated, ”Seymore wrote in a note to clients. The stock has climbed 128.1% year-to-date through Wednesday, while the PHLX Semiconductor SOX index,
+ 0,08%
rose 35.8% and the S&P 500 SPX,
-0,20%
gained 10.6%.

LEAVE A REPLY

Please enter your comment!
Please enter your name here