• Fri. Sep 25th, 2020

Dimancherouge

Technology

Nvidia Share-Price Target at Needham Is Wall Street High

Nvidia  (NVDA) – Get Report shares rose Tuesday as Needham analyst Rajvindra Gill boosted his share-price target to a Wall Street high of $700 from $600.

The move follows the Santa Clara, Calif., graphics-chip company’s agreement to buy SoftBank Group’s Arm unit for $40 billion.

Gill also affirmed his buy rating on Nvidia. 

The shares recently traded at $531.38, up 3.2%. They had more than doubled in 2020 through Monday.

Nvidia’s deal for Arm “will create the leading artificial-intelligence computing platform in the semiconductor industry,” Gill said in a commentary.

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