Nvidia Stock Loses Its Only Sell Rating as HSBC Flags AI Potential
- HSBC more than doubles price target to Street high of $355
- The chipmaker’s shares have surged 140% from October low
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There are no longer any Wall Street analysts recommending investors to sell Nvidia Corp. stock.
The chipmaker rose as much as 4.1% after the stock was upgraded to buy by HSBC Corp.’s Frank Lee, who was the only analyst with a sell-equivalent rating on the stock. Lee said in a research note Tuesday that the company’s artificial intelligence opportunity more than offsets his previous concerns surrounding a slowdown in data centers and rising inventory levels.