Forget $200! Nvidia’s share price could hit $250, according to this broker
Nvidia’s (NASDAQ:NVDA) share price has regained its upward momentum recently, hitting new all-time highs. As a result, many investors are eyeing up $200 as the next big price target.
One brokerage firm believes that the tech stock can climb much higher than this, however. It sees $250 on the horizon – roughly 60% higher than the share price today.
The brokerage firm I’m referring to is Loop Capital. Recently, it raised its price target for Nvidia from $175 to $250 (which would equate to a $6trn market cap).
In a research note posted on 25 June, Loop analyst Ananda Baruah – who has a Buy rating on the stock – said that he expects spending on artificial intelligence (AI) to increase…
