Nvidia, the AI chipmaker, experienced a surge in its stock price following a 10-for-1 stock split. This positive momentum was further reinforced by price-target increases from three prominent Wall Street analysts, namely Barclays, Susquehanna, and TD Cowen. Among them, Barclays analyst Tom O’Malley adjusted his price target for Nvidia stock to 145, taking into account the stock split. O’Malley also maintained his overweight rating on Nvidia, expressing confidence in its future performance. The price-target hikes are attributed to the potential sales growth Nvidia can achieve through the acquisition of AI chips by sovereign nations. O’Malley predicts a significant acceleration in this particular market in the coming year. As of late morning trades, Nvidia stock demonstrated a modest increase of 0.8% to reach 121.85.
