(News Bulletin 247) – HSBC raised its target price on Nvidia on Monday evening, raised from 600 to 780 dollars, while maintaining its buy recommendation on the stock.
In a research note, the British bank says it still sees upside potential in the chip designer, whose stock price has more than tripled this year.
‘While market expectations have been clearly revised upwards for Nvidia and the entire AI-related sphere in general, we expect the momentum of AI applications ( IA) continues to exceed market expectations’, underlines the establishment.
HSBC, which raises its forecasts for the 2024 and 2025 financial years, believes that these potential good surprises have not yet been fully integrated by investors.
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