Technology stocks were holding on for moderate gains Tuesday, with shares of tech companies in the S&P 500 recording a 0.3% gain this afternoon.
In company news, Nvidia Corp (NVDA) hit a new record high on Tuesday after analysts at Goldman Sachs today added the visual computing company to their Conviction Buy List and raising their price target for the company’s stock by $37 to $129 a share.
Also today, analysts at Mizuho today increased their price target for Nvidia shares by $35 to $115 a share while reiterating their Buy rating for the stock.
The moves follow the company last week finalizing a termination agreement scrapping 63.3 million warrants issued to Goldman in November 2013 and replacing them with a yet-to-be-determined number of Nvidia shares purchased on the open market and based on the volume=weighted average price of the stock between Dec. 13 to Jan. 31, 2017.
NVDA shares were up more than 3% at $105.04 apiece this afternoon, stepping back slightly from a best-ever $106.13 a share.