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Nvidia: stock up sharply, with broker raising TP

(CercleFinance.com) - Nvidia rose 4.
5% in New York on Friday, after Wedbush reiterated its 'outperform' rating on the stock, with a target price raised from $120 to $138.

The analyst is confident, forecasting stronger Q2 results and robust third-quarter guidance.

Regarding Q2 results, to be published this week, the broker raises its forecasts, now expecting EPS of $0.67 and revenues of $30bn, against a consensus of $0.64 and $28.6bn respectively.

We are raising our July and October expectations by around $2bn each, due exclusively to higher assumptions for data centers, which have more than offset slight downgrades for the gaming business, it explains.


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