Perhaps one of the most thrilling investments in recent times, the leading semiconductor giant Nvidia (NASDAQ: NVDA) made waves in June by announcing a 10-for-1 stock split. While the practical impact of this move is somewhat diminished in today’s era of fractional stock ownership, it stands as a testament to NVDA’s remarkable performance and opens up the opportunity for more investors to own whole shares.
Although the split did not immediately break Nvidia’s period of relative stagnation, it did lead to several analyst firms revising their price targets and ratings. Wall Street experts overwhelmingly expressed their confidence in the blue-chip chipmaker, with eight prominent firms issuing updated ratings and price targets following the split on June 7.
Susquehanna was the first to reaffirm its ‘buy’ rating on June 10, raising its price target from $120 to $145. Barclays followed suit on the same day with a similar move, also setting a target of $145. Morgan Stanley and TD Cowen maintained their ‘buy’ ratings, with TD Cowen increasing its forecast to $140.
On June 11, Goldman Sachs and Evercore ISI joined the chorus of optimism. Goldman Sachs raised its price target to $135 while Evercore ISI upgraded NVDA to $145. Argus, on the other hand, offered the largest price target boost, increasing its estimate from $110 to $150 – the highest on the street.
DZ Bank, however, took a more neutral stance on Nvidia’s future prospects, refraining from providing a clear price target. In the dynamic world of stock markets, Nvidia’s stock split has certainly stirred up excitement and anticipation among investors and analysts alike.
