UPDATE: NVIDIA (NVDA) PT Raised to $340 at Argus

(correcting PT, PT action, and adding comment)

Argus analyst Jim Kelleher raised the price target on NVIDIA (NASDAQ: NVDA) to $340.00 (from $300.00) while maintaining a Buy rating.

The analyst comments "BUY-rated NVidia Corp. (NGS: NVDA) surged higher by 6% or $17 on 2/14/20 after delivering above-consensus results for fiscal 4Q20 (ended 1/26/20). NVidia in 4Q20 returned to strong double-digit top-line and triple-digit bottom-line growth. Investors were particularly cheered by growth in Data Center, which achieved all-time-high revenue of $968 million, or 31% of total. NVidia appears to be extending its competitive lead in AI-capable and deep learning solutions for cloud data center and webscale customers."

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