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Barclays increases Nvidia price target

Aug. 11, 2017 4:09 PM ETNVIDIA Corporation (NVDA) StockNVDABy: Brandy Betz, SA News Editor72 Comments
  • Barclays raises Nvidia’s (NASDAQ:NVDA) price target by $35 to $140.
  • The price shift comes after the Q2 earnings beat estimates due to strong but potentially short-term cryptocurrency mining demand while the important data center segment didn’t grow as much as expected sequentially. 
  • Barclays says cryptocurrency revenue streams shouldn’t get a multiple because it will eventually become a headwind. 
  • If Nvidia wants to trade at 40x to 50x multiple, the earnings results need to show stronger, cleaner growth in long-term business segments like the data center.   
  • Source: Briefing.com 
  • Nvidia shares closed today down 5.33%.      
  • Previously: Analysts raise Nvidia price targets after earnings (Aug. 11)

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