(US) Nvidia Stock Popped. USD250 Target Price.

Nvidia (NVDA) surged higher last night (MY time), jumping as much as 3.3%. According to the Motley, the catalyst that sent the semiconductor specialist higher was analyst reaction to announcements made during Nvidia's 2022 Global Technical Conference (GTC). It closed at USD132.61 (+USD0.85) yesterday.

Oppenheimer analyst Rick Schafer maintained his outperform (buy) rating and USD250 price target on the stock, citing the pending launch of Nvidia's GeForce 40 Series, noting that he believes the company's gaming business is now de-risked, given the recent stock price decline.

It's important to note that the data center segment has become an important driver for Nvidia. Revenue from the segment grew 61% year over year and represented more than half the company's total revenue. Investors feared the government restrictions would pinch revenue growth, but it turns out the investors should stay the course

Source: The Motley Fool

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