Hot stock watch: UBS raised NVIDIA the rating on the stock of the U.S. chip maker NVIDIA Corporation (NVDA) from neutral to buy and announced to maintain the forward twelve month stock price target of $15.50..
UBS said that from the perspective of risk-reward point, the pullback of NVIDIA stock price made the company’s stock more attractive. UBS also cited the strong performance of NVIDIA in the non-Apple tablet PC market as one of the reasons for raising the rating of NVIDIA stock.
In the premarket trading of the Nasdaq stock exchange, NVIDIA stock price added 2.7%, to $12.40 per share. NVIDIA stock opened at $12.51 today, as of release, the shares are reporting at $12.30, 1.49% higher than the previous day closing price.