https://wccftech.com/nvidia-nasdaq-nvda-closes-at-a-new-all-time-high-spurred-by-a-historic-acquisition-spree-and-bullish-endorsements-from-a-needham-analyst/

NVIDIA (NASDAQ:NVDA) closed at a fresh all-time high on Monday following a plunge below $200 earlier in March amid a bloodbath in the broader market induced by the coronavirus (COVID-19) pandemic.

Today’s 3.32 percent rally was largely precipitated by a bullish investment note penned by Needham analyst, Rajvindra Gill. The analyst raised NVIDIA’s stock price target from $270 to $360, marking an upside potential of over 11 percent from the current levels, while reiterating a ‘Buy’ rating for the stock. According to Gill, the acquisition of Mellanox will be “highly accretive”, boosting NVIDIA’s incremental earnings per share by $0.95 in FY 2022. The analyst also raised NVIDIA’s gaming estimates on the back of higher expected Nintendo Switch sales as well as the stay-at-home economy acting as a conducive agent for the broader gaming sphere.