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Why Nvidia Stock Rallied (Again) on Tuesday

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Why Nvidia Stock Rallied (Again) on TuesdayPhoto, wide shot, wide-angle lens, Networking equipment supplier, sunset photo at golden hour, photo by Marc Adamus: https://img.midjourneyapi.xyz/temp/66e3509e-f4c6-4a7b-8e88-53fcc02cf17f.png

Shares of Nvidia (NASDAQ: NVDA) surged higher (again) on Tuesday, jumping as much as 4.9%. As of 3:32 p.m. ET, the stock was still up 4.6%.

The catalyst that sent the chipmaker and artificial intelligence (AI) specialist higher was a pair of price target increases by Wall Street analysts ahead of the company's upcoming quarterly report.

Truist Securities analyst William Stein maintained a buy rating on Nvidia stock while increasing his price target to $167. For investors keeping score at home, that represents potential gains of 19% compared to Monday's closing price.

Source Fool.com

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