202011 May

Nvidia Stock Hits Record High After Mellanox Acquisition


Graphics-chip maker Nvidia (NVDA) on Monday saw its stock reach a record high following its recent purchase of Mellanox Technologies. Needham analyst Rajvindra Gill on Monday reiterated his buy rating on Nvidia stock and raised his price target to 360 from 270. It also should profit from robust sales of graphics processors for gaming PCs and Nintendos (NTDOY) Switch console, Gill added. On Thursday, Piper Sandler analyst Harsh Kumar raised his price target on Nvidia stock to 350 from 330 and kept his overweight rating. "With the acquisition of Mellanox now complete, we are markedly increasing our revenue and earnings estimates in order to combine the business models," Kumar said in his note to clients.

Source: Investors