KeyBanc Raises Nvidia Price Target Signifying 16% Upside, Reiterates Overweight Rating

KeyBanc analyst John Vinh raised NVIDIA Corp’s NVDA price target to $950 from $775. Vinh reiterated an Overweight rating.
The new price target implies a 15.9% upside on the company’s Friday closing price at $819.48.
Feedback confirms robust gaming demand and not crypto mining demand fueled by introducing Cryptocurrency Mining Processors (CMPs) and healthy data center strength, Vinh cited.
Recently, Nvidia CEO Jensen Huang expressed optimism over regulatory support for the acquisition of SoftBank Group Corp’s SFTBY SFTBF Arm Ltd in a deal valued at $40 billion.
Price action: NVDA shares traded higher by 1.22% at $829.45 in the premarket session on the last check Tuesday.