Susquehanna analyst Christopher Rolland upped his price target on shares of Nvidia Corp. NVDA, -0.18% to $700 from $625 Monday, matching the highest price target among analysts surveyed by FactSet. His note comes ahead of Nvidia’s Wednesday afternoon earnings report. “From a high level, we expect another beat-and-raise quarter as continued stay-at-home dynamics, Ampere gaming ramp, and a resurgence in crypto-mining drives GPU demand to all-time highs,” Rolland wrote. He pointed to optimism on the part of Nvidia’s management team when he spoke with them in January. “[T]hey were excited about a great holiday season and were insistent that any supply shortage is a product of the stronger than expected demand environment,” he wrote. Shares are up 0.9% in Monday morning trading. They’ve gained 15% over the past three months as the S&P 500 SPX, -0.60% has climbed 9%.
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