NVIDIA Corporation (NASDAQ:NVDA) shares are trading higher by 4.81% to $228.36 Tuesday afternoon after B of A Securities maintained a Buy rating on the stock and raised its price target from $215 to $255.
Nvidia shares are also trading higher despite volatility in the broader market after the Labor Department reported a 6.4% year-over-year increase in the consumer price index for January, marking the fourth straight lower print.
Our Benzinga team earlier reported the headline CPI rose 6.4% last month, down from 6.5% in December, according to data from the U.S. Bureau of Labor Statistics.
The January CPI reading came in above average economist estimates of 6.2%.
On a month-over-month basis, CPI was up 0.5%, in line with average economist estimates…Read More
See Also: Inflation Continues To Cool, But At Slower Pace Than Economists Predicted: Stocks Struggle To Price In The Fed’s Next Move
According to data from Benzinga Pro, NVDA has a 52-week high of $289.46 and a 52-week low of $108.13.
