NVIDIA (NVDA) PT Raised to $120 at Citi on Auto Opportunity; Sees Sell-Off as 'Healthy'
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Rating Summary:
50 Buy, 11 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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Citi analyst Atif Malik reiterated a Buy rating and raised his price target on NVIDIA (NASDAQ: NVDA) to $120, citing the auto opportunity. The views the recent sell-off as 'healthy'.
Malik commented, "We are increasing NVDA TP to $120 on higher C18 auto sales driven by growing autonomous engagements with car makers and tier 1 suppliers. We view recent stock price pull back on competitive concerns as “healthy” for the stock."
The analyst notes NVDA will host several events at CES this year including opening keynote address by CEO/founder Jen-Hsun on 1/4. Moreover, Citi will host an investor meeting with the management team on 1/5.
For an analyst ratings summary and ratings history on NVIDIA click here. For more ratings news on NVIDIA click here.
Shares of NVIDIA closed at $102.01 yesterday.
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