NVIDIA Stock Is "Going Into Overdrive," Says Analyst

Shares of NVIDIA (NASDAQ: NVDA) are headed to new all-time highs.

So says BMO Capital analyst Ambrish Srivastava. On Tuesday, he lifted his price forecast on the tech titan's stock from $565 to $650. His new target represents potential gains to shareholders of 16% from NVIDIA's current share price near $560. 

Srivastava says NVIDIA's stock remains a buy as its pace of innovation goes into "overdrive." He posits that the chipmaker's new product launches will help to significantly expand its long-term market opportunity.

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Source Fool.com