Shares of Nvidia (NASDAQ:NVDA) closed Friday more than 2% higher, in contrast to a generally flat stock market. That followed a price target upgrade from one analyst tracking the stock. It also occurred on a good day for cryptocurrencies, which help boost its business.
That upgrade came from Jefferies prognosticator Mark Lipacis, who now believes Nvidia stock is worth $260 per share. That’s nearly $30 higher than his previous price target of $233, and nearly 14% higher than the stock’s current level. Lipacis is maintaining his buy recommendation on the shares.