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Nvidia Jumps 4%: Merrill Lynch Ups Target to $210 on Volta, Data Center Capex
Stock price targets keep moving higher for Nvidia, with Merrill Lynch's Vivek Arya raising his today to $210, following Evercore ISI's C.J. Muse raising his target to $250 on Friday.
By Tiernan Ray
Sept. 18, 2017 10:08 a.m. ET
Shares of GPU titan Nvidia ( NVDA) are up $6.42, or almost 4%,a t $186.53, after Merrill Lynch's Vivek Arya this morning reiterated his Buy rating on the shares, and raised his price target to $210 from $185, citing potential for estimates to go higher this latter half of the year and next year.
Merrill Lynch does not provide research reports to media. However, according to a summary by TheFlyontheWall, Arya notes in particular several positive potential developments, such as the actual roll out of the newer “Volta” parts, various reviews lauding the performance of that product, and an “acceleration in data center capital spending.
Today boost in target at Merrill follows one on Friday from Evercore ISI’s C.J. Muse, who had raised his target to $250 from $180, based on his belief the company is creating “the industry standard” in artificial intelligence computing.
Also late Friday, RBC Capital Markets’s Mitch Steves argued that a crackdown on bitcoin exchanges by the Chinese government may actually fuel demand for Nvidia gear in order to “mine” bitcoin and other crypto-currencies.