Nvidia (NASDAQ:NVDA) stock is on the move Monday after the graphics card company’s shares got a new price target from analysts at HSBC.
This updated coverage has HSBC analyst Frank Lee increasing the firm’s price target for NVDA stock from $1,050 per share to $1,350. That’s a potential 50% upside from the stock’s prior closing price. It’s also above the analyst consensus price prediction of $962.05 per share for NVDA.
The HSBC analyst also reiterated his “buy” rating for NVDA stock in this update. For comparison, the analyst consensus rating for shares is a moderate buy based on 42 opinions.
What’s Behind the Bull Stance on NVDA Stock?
Here’s what Lee said in a note to clients obtained by Investing.com:
“We believe Nvidia will continue to demonstrate its strong pricing power via its NVL36/NVL72 server rack system and GB200 platform, which will once again surprise the market on the upside in FY26.”
Lee estimates NVDA will reported revenue of $26 billion in its earnings report later this month. That’s higher than the consensus estimate of $24.5 billion and Nvidia’s own $24 billion outlook.
NVDA stock is up slightly as of Monday morning with some 14 million shares traded. That’s below its daily average trading volume of about 52 million shares.
There are more stock market stories worth reading about on Monday below!
We have all of the hottest stock market stories traders need to know about today! A few examples include what’s happening with shares of AMC Entertainment (NYSE:AMC), Koss (NASDAQ:KOSS) and Intel (NASDAQ:INTC) stock today. You can check out all of that news at the following links!
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- The $11 Billion Reason Intel (INTC) Stock Is Up Today
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
