Shares of Nvidia Corp. (NVDA) are up 1% in Thursday trading after Susquehanna analyst Christopher Rolland raised his price target on the stock to $450 from $420. His new target is the highest listed on FactSet. He's more upbeat on the company's prospects following a recent call with Nvidia's management team that touched on data-center and automotive progress as well as the company's integration of Mellanox, which it recently acquired. Rolland estimates that the Mellanox assets could add at least $20 billion to $30 billion to Nvidia's market value over time. "We believe Mellanox increases the overall value proposition for data center, enterprise, real-time gaming (perhaps), and automotive products from Nvidia," Rolland wrote. He's intrigued by the company's opportunities in "low-latency automatic Ethernet," which he said could help crack the "real-time AV [automative vehicle] puzzle." Rolland has a positive rating on Nvidia shares, which have gained 52% over the past three months as the S&P 500 has climbed 23%.
-Emily Bary; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
June 25, 2020 09:43 ET (13:43 GMT)
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