Shares of graphics chip developer NVIDIA (NASDAQ: NVDA) surged on Monday following multiple price target bumps from analysts ahead of the company's second-quarter report. The stock was up about 6.2% at 11:25 a.m. EDT.
Higher price targets came from analysts at Susquehanna and Oppenheimer. Susquehanna boosted its NVIDIA price target from $450 to $540, based on the expectation that NVIDIA's upcoming gaming GPUs will offset any slowdown in data center demand in the second half of 2020. NVIDIA has scheduled an event for Sept. 1 at which it's expected to unveil its newest line of high-end gaming graphics cards.
Image source: NVIDIA.
Source Fool.com