The shares of NVIDIA Corporation (NASDAQ:NVDA) have been on a surge all year. The Wall Street investment bank Jefferies has been urging the investors to build their position in this stock. The analysts at Jefferies told the clients that the company is likely to beat the expectations set by Wall Street. The analysts believe that one of the key reasons for the surge has to be the increased demand for Nintendo switch game console.
Further, the graphic cards seem to be seeing a great amount of demand and a lot of consumers are going to use it for mining cryptocurrency coins. The analysts on Wall Street have given a buy rating on the shares of NVIDIA Corporation (NASDAQ:NVDA) and they have set the price target at $180. Given the current trading price, the analysts believe that stock can gain further 5%.
As both Intel Corporation (NASDAQ:INTC) and NVIDIA Corporation (NASDAQ:NVDA) have reported ASP related upside in client computing, the analysts believe that NVIDIA too is likely to see the right kind of surge during the July quarter results. As per speculation, this chipmaker is likely to weigh in with earnings tantamount to $0.72 a share and this is greater than the consensus of earnings listed by Wall Street.
Jefferies isn’t the only firm that believes that NVIDIA Corporation (NASDAQ:NVDA) is all set to report upside to its earnings this week. B. Riley too had set a $200 price target on this stock as they believe that the diversification strategy followed by the company is sure to help them witness good growth.