Several brokerage houses raise the price target on Nvidia

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A minute after trading took off on the New York stock exchange, the Nasdaq index has risen 0.4 percent and stands at 16,400.71 points, while the Dow Jones rises 0.3 percent to 39,618.82 points. The S&P 500 rose 0.3 percent to 5,236.21 points.

The ten-year US government bond yield is at 4.47 per cent, while the VIX index, also called the fear index, rises 5.8 per cent to 13.28.

On Tuesday, Home Depot and Alibaba present their quarterly figures, and on Thursday Walmart is among the companies that present their figures.

Nvidia

After a change of analysts in Jefferies, the brokerage house comes out with a new buy recommendation on Nvidia, at the same time raising the price target from 780 to 1,200 dollars. The new price target indicates an upside of 33 percent for the IT rocket, which has already risen 81 percent so far this year.

According to MarketWatch, HSBC raises its price target on Nvidia from $1,050 to $1,350, while reiterating its buy recommendation. Analyst Frank Lee believes the market is underestimating the significant revenue potential that artificial intelligence can result in.

On Monday, the share rose 0.8 percent to 906 dollars in the opening minutes.

GameStop

Keith Gill, the man who started the GameStop short quiz in 2021, has posted his first post in nearly three years. This sends the stock up 49 percent in the opening minutes.

The post, a photo on X (Twitter) of a computer gamer leaning forward in his chair to concentrate and take the game more seriously, is the first post by Gill since 2021.

Macro

Handelsbanken emphasizes that Wednesday’s US inflation figures for April will be important to follow. They also have the potential to influence the interest rate outlook in Norway.

“We remember the inflation figures from last time, which were stronger than expected; both for overall price growth and not least for core price growth. Which thus smashed the hypothesis that the strong price increase at the start of the year was driven by only temporary disturbances. Rather, the recent momentum suggests that price growth in the US may be on the way up again, or at least level off a bit above the 3s,” Handelsbanken writes in a report.

The article is in Norwegian

Tags: brokerage houses raise price target Nvidia

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