Nvidia’s share price has already jumped 221% in 2023.
Nvidia Corp. shares soared on Monday as more analysts raised their price targets on the stock, a sign of growing optimism about the chipmaker’s highly anticipated results later this week.
Shares are up 221% this year, compared with a gain of 41% for the Philadelphia Stock Exchange Semiconductor Index.HSBC, KeyBanc Capital Markets, and BMO Capital Markets are among the latest firms to boost their targets ahead of the Aug. 23 release of Nvidia’s second-quarter results.Revenue is seen rising 65% from the year-ago period, according to data compiled by Bloomberg.
KeyBanc Capital Markets, meanwhile, expects Nvidia’s results and outlook will be “meaningfully above” consensus expectations, given strong demand trends.
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