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Nvidia Gets a Price Target Boost. Bitcoin’s Impact on Gaming May Be Ending.

The impact of Bitcoin mining on Nvidia‘s gaming business may be slowing, prompting investment bank Piper Sandler to turn more bullish on the stock.

Analysts at the bank raised their target price for Nvidia (ticker: NVDA) from $225 to $260 Monday. Nvidia stock was around 1% higher in the U.S. premarket, after closing at $227.26 Friday. The shares have climbed more than 73% in 2021. The analysts cited a “more constructive” view on Nvidia’s gaming business as the reason for their more bullish outlook.

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