Nvidia: Bernstein initiates with 'outperform' rating.

(CercleFinance.com) - Shares in graphics chipmaker Nvidia are up over 3% today after Bernstein initiated its coverage of the stock with an "outperform" rating and target price of 165 dollars.


In its report Bernstein recalls that Nvidia's stock performance has been "astounding," soaring by over 500% over the last two years on the backdrop of a strong gaming cycle and increasing investor awareness of the company's exposure to advanced technologies, such as artificial intelligence, autonomous driving, and virtual reality.

"But we believe the story is not yet over, as Nvidia's end markets continue to possess long term opportunity that may still be underestimated by the Street," the broker writes in its report.

Nvidia shares are currently up 3.1% at 137.2 dollars, having risen by over 7% this week.

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