Benzinga | Oct 26, 2021 05:18PM EDT

Piper Sandler Bumps Up NVIDIA Target Price By 16%

* Piper Sandler analyst Harsh Kumar raised the price target on NVIDIA Corp (NASDAQ:NVDA) to $260 from $225 and reiterated an Overweight rating on the shares.

* Into Nvidia's upcoming earnings announcement, the analyst is a "bit more constructive" on the gaming business following an eBay scraping analysis.

* The data suggests there could be a decoupling between bitcoin prices and secondary market GPU price premiums, which could remove "one of the major investor hang-ups" around Nvidia, Kumar tells investors in a research note.

* Price Action: NVDA shares closed higher by 6.70% at $247.17 on Tuesday.