Why Nvidia Stock Is Trading Higher Today

NVIDIA Corp NVDA is trading higher Tuesday morning following bullish analyst coverage from Tigress Financial.

Tigress Financial analyst Ivan Feinseth maintained Nvidia with a Buy rating and raised the price target from $400 to $410.

Feinseth highlighted Nvidia's recently held GTC 2022 Conference. He attributed the price target increase to the company's new products and its ongoing advancement in AI, further powering data centers, gaming, autonomous technology and the omniverse.

The Tigress Financial analyst believes ongoing innovation driving new product introductions will continue to fuel accelerating business performance trends. Feinseth noted that the company's strong balance sheet and cash flow will enable it to fund growth initiatives via ongoing innovation and strategic acquisitions.

See Also: 20 Stocks Moving in Tuesday's Pre-Market Session

NVDA 52-Week Range: $123.73 - $346.47

The stock was up 2.77% at $290 at time of publication.

Photo: courtesy of Nvidia.