Nvidia (NASDAQ:NVDA) stock is on the rise on Tuesday after shares of the chipmaker got a new price target from Jefferies analyst Blayne Curtis.
The new price target from Jefferies increases its estimate from $135 per share to $150 per share. That’s a 27% potential increase compared to the stock’s prior closing price. It’s also above the analyst consensus estimate of $122.13 per share.
It’s also worth mentioning that Jefferies continues to have a “buy” rating for NVDA stock. That matches up with the analyst consensus rating based on 44 opinions.
What’s Behind the New NVDA Price Target
Here’s what Curtis said about NVDA stock in a note to clients obtained by StreetInsider:
“We still think it’s too early to call any losers for 2025, but we do see growing concern for AMD’s pipeline. NVDA remains both king and kingmaker – for example, we still see growth for MRVL and ALAB alongside NVDA, but NVDA’s decisions on each generation could materially alter that.”
NVDA stock is up 3% as of Tuesday morning. That comes with more than 124 million shares traded. This is still well below its daily average trading volume of about 440 million shares.
Investors on the lookout for more of the most recent stock market stories are going to want to stick around!
We have all of the hottest stock market news ready to go on Tuesday! Among that is what has shares of Chipotle (NYSE:CMG), Novo Nordisk (NYSE:NVO) and Beyond Air (NASDAQ:XAIR) stock on the move today. All of that news is ready at the links below!
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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.
