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NVIDIA forecast to double chip volume next year boosts stock outlook
MarketBeat Ratings notes that 55 analysts cover NVIDIA, with only one Hold rating, while the consensus price target has risen more than 50% over the past 12 months.
NVIDIA’s outlook strengthened after a forecast indicated the company could double its chip volume next year, according to MarketBeat Ratings.
The outlet links the bullish view to ongoing rapid computing expansion and new product launches that it says support an “ecosystem” dynamic, which could keep NVIDIA growing and sustain upgrades to revenue and earnings expectations.
MarketBeat Ratings also points to analyst coverage, saying 55 analysts track the stock, with only one Hold rating and the rest Buy-focused.
It adds that the consensus price targets have climbed more than 50% over the trailing 12 months and imply roughly 45% upside versus the late-September price level, according to the outlet.