Susquehanna Financial Group has issued a bullish outlook on Nvidia (NVDA) stock, setting a record price target after the company's recent 10-for-1 stock split. The firm has raised its price target on the semiconductor giant from $145 to $160, the highest target among Wall Street analysts. Yahoo Finance's Seana Smith and Madison Mills break down the details. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith
Nvidia stock was down slightly Monday but has been in and out of positive territory. Nvidia shares were down 0.3% at $131.48 on Monday. Nvidia’s recent 10-for-1 stock split has helped the stock’s rally.
The U.S. Supreme Court agreed on Monday to hear a bid by Nvidia to scuttle a securities fraud lawsuit accusing the artificial intelligence chipmaker of misleading investors about how much of its sales went to the volatile cryptocurrency industry. The justices took up Nvidia's appeal made after a lower court revived a proposed class action brought by shareholders in California against the company and its CEO Jensen Huang. Santa Clara, California-based Nvidia is a high-flying company that has become one of the biggest beneficiaries of the AI boom, and its market value has surged.