Nvidia Extends Rally as Bull Sees Valuation Nearing $5 Trillion
- Rosenblatt hikes price target to Street high of $200 from $140
- Shares have rallied 165% this year, adding about $2 trillion
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Shares of Nvidia Corp. surged more than 200% over the past year and one of its most bullish analysts is projecting that the semiconductor giant will extend its rally, pushing its market value to nearly $5 trillion in the coming year.
Rosenblatt Securities analyst Hans Mosesmann on Tuesday hiked his price target on the chipmaker to a Wall Street high of $200 from $140. His raise follows the company’s recent 10-for-1 stock split on June 10. Nvidia rose as much as 2.7% Tuesday, hitting new intraday highs.