Why Nvidia Shares Climbed Modestly Before Reversing Tuesday Morning
Shares of Nvidia (NASDAQ: NVDA) climbed by as much as 2% on Tuesday morning after a couple of Wall Street analysts raised their price targets on the company. As of 11:15 a.m. EDT, the stock had reversed course and was down by 2%.
J.P. Morgan analyst Harlan Sur reiterated an overweight (equivalent to a buy) rating on Nvidia stock, boosting his price target from $176 to $215. All of Nvidia's operating segments are performing well, and Sur argues that the stock's premium valuation is justified.
Image source: Nvidia.
Source Fool.com