BING-JHEN HONG
- Nvidia (NASDAQ:NVDA) was in focus on Wednesday as Loop Capital Markets raised its price target on the Jensen Huang-led semiconductor giant to a new Wall Street high.
- Shares rose 1% in premarket trading.
- Loop Capital analyst Ananda Baruah raised his price target to $250 from $175, citing the belief that hyperscale and AI factor spending could reach $2T by 2028. As such, Baruah believes Nvidia could hit a $6T market cap on the view that the company essentially has a monopoly in “critical tech” and has strong pricing power.