Shares of Nvidia Corp. NVDA,
rose 1.3% to a record high in premarket trading Monday after Susquehanna analyst Christopher Rolland raised its price target to a Street High $ 540 from $ 450, saying the expected launch of Ampere Gaming Graphics Processing Units (GPUs) in September is an expected delay of the second half will compensate in datacenters and help the company lift its prospect. Rolland reiterated the positive assessment he had in store since November 2018. “While Intel and others are forecasting a 2H data center battle, we believe the setup will remain favorable for Nvidia, helped by the relatively new launch of the A100,” Rolland wrote in a note to clients. He said Ampere is likely to contribute to Nvidia’s October traffic, a likely tailwind for guidance. Rolland’s share price target is now the highest of the 40 researchers surveyed by FactSet, with the next highest at $ 510, and the average target at $ 426.82. Separately, Rick Schafer of Oppenheimer raised his target Monday to $ 500 from $ 400, saying he expects “strong” fiscal results from the second quarter as Nvidia reports revenue after the August 19 closing clock. The stock has increased 36.2% over the past three months to Friday, while the PHLX Semiconductor Index SOX,
is 29.4% advanced and the S&P 500 SPX,
has received 17.8%.
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