TromDom schreef op 9 januari 2017 20:09:
NVIDIA: SHARES UP AFTER JEFFERIES RAISES PRICE TARGET.
Cercle Finance - 16:55
(CercleFinance.com) - Shares in Nvidia are up 4% on Monday after Jefferies raised its target price for the graphics chips maker on the back of new auto deals.
The US broker raised its target price on the stock to 125 dollars versus 110 dollars previously, while maintaining a 'buy' rating.
Jefferies states that both Audi and Mercedes Benz announced at CES last week that their self-driving car programs will be based on Nvidia's technology, after similar announcements by Tesla and Volvo.
'We think the Audi announcements signal heated competition for self-driving cars, which translates to increased confidence in our three-yr six dollars EPS earnings power for Nvidia,' the broker writes.
Nvidia shares are currently up 3.9% at 107.2 dollars.
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