Reported 15 days ago
HSBC has upgraded Nvidia Corp. to a 'buy' rating, raising its price target to a Street-high of $320, anticipating nearly 80% upside, thanks to the growing demand for artificial intelligence. Analyst Frank Lee noted that the expanding market for AI GPUs will boost continuous earnings growth for Nvidia, which has already seen a remarkable 30% rise this year. More than 90% of analysts now recommend buying Nvidia stock, while AMD also received an upgrade from HSBC, reflecting a positive outlook for the semiconductor sector.
Source: YAHOO