5 Hottest Stocks to Watch on Wednesday

2. NVIDIA Corporation (NASDAQ:NVDA) is up 2.8% as of 11:52 AM ET after Pierre Ferragu at New Street upgraded the Santa Clara, California-based graphic processing unit (GPU) company from a Neutral to a Buy rating with a price target of $280. The price target assumes a potential upside of over 30% from the last closing price. The analyst sees NVIDIA Corporation (NASDAQ:NVDA) stock at an attractive valuation and sees the company as providing exposure to the risk and reward of the cryptocurrency mining industry. NVIDIA Corporation (NASDAQ:NVDA) has also provided a strong outlook on the data center market for its GPUs.

As per Insider Monkey’s database, NVIDIA Corporation (NASDAQ:NVDA) was held by 110 hedge funds at the end of Q4 2021.