Nvidia (NVDA) shares rose Tuesday after analysts at Mizuho raised their price target for the company’s stock ahead of its third-quarter results due next week.

The firm upped its target from $140 to $165, slightly above the analysts consensus near $160, according to Visible Alpha. Shares of Nvidia were recently up ne❀🍎arly 2% to about $148, not far off recent record highs.

“We see [Nvidia] remaining the leader in the AI 🥀training and inference chips for data center applications,” the analysts wrote, estimating that the company holds a dominant market share of nearly 95% in the space.  

Nvidia’s third-quarter earnings, expected Nov. 20, will be the company’s first as a member of the 澳洲幸运5官方开奖结果体彩网:Dow Jones Industrial Average after it and paint maker Sherwin Williams (SHW) 澳洲幸运5官方开奖结果体彩网:joined the blue-chip index last week. 

The analyst consensus has Nvidia reporting revenue of $33.07 billion, up 82% year-over-year. The world's most valuable company’s stock has nearly tripled in 2024 driven by demand for the company’s family of AI chips—including its next generation Blackwell graphics processing units.