Nvidia (NVDA) Stock Price Target Lifted at Canaccord Genuity

NEW YORK (TheStreet) — Nvidia’s (NVDA) stock price target was raised to $55 from $45 at Canaccord Genuity on Thursday. The firm has a “buy” rating on the stock. The Santa Clara, CA-based company designs graphics processing units (GPU) for the gaming market, as well as system on a chip units (SOCs) for the mobile computing and automotive market. “We maintain our belief NVIDIA’s transformation from a PC-leveraged GPU supplier to a diverse visual-computing company is now complete with growth and overall earnings power now driven by the company’s four target growth markets of gaming, enterprise, HPC/cloud, and automotive,” the firm wrote in an analyst note earlier today. As applications of highly parallel GPU computing expand and developer tools and deep learning algorithms mature, Canaccord’s positive thesis continues to play out…


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