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Nvidia's gaming tailwind drives Street-high price target

Aug. 10, 2020 8:53 AM ETNVIDIA Corporation (NVDA) StockNVDABy: Brandy Betz, SA News Editor27 Comments
  • Ahead of next week's fiscal Q2 report, BofA raises Nvidia's (NASDAQ:NVDA) price target from $460 to $520. NVDA shares are up 1.2% pre-market to $543.20.
  • Analyst Vivek Arya expects Q2 results to meet consensus "as data center demand remains resilient, offset somewhat by softness in more cyclical autos and proviz businesses."
  • Arya forecasts H2 gaming tailwinds with potential "major growth catalysts" in the new consoles from Microsoft and Sony.
  • BofA maintains a Buy rating on Nvidia. Wall Street analysts average out to a Bullish stance, and a $401.42 price target, while SA contributors sit at Neutral.
  • Nvidia will report earnings on August 19. Consensus estimates expect $3.66B in revenue and $1.97 EPS. The company has a strong history of beating earnings estimates:

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