(This is Tech Zone Daily Pro’s live coverage of Tuesday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) A chip giant and an e-commerce company were among the names being talked about by analysts on Tuesday. Oppenheimer raised its price target on Nvidia after the company completed a 10-for-1 stock split. Meanwhile, JPMorgan initiated Shopify with an overweight rating. Check out the latest calls and chatter below. All times ET. 5:41 a.m.: Oppenheimer raises Nvidia price target after stock split Nvidia’s momentum will continue, according to Oppenheimer. Analyst Rick Schafer reiterated an outperform rating on Nvidia in a Monday note and increased his price target to a split-adjusted $150 per share from $110. Schafer’s forecast implies more than 23% upside in 2024. Nvidia recently completed a 10-for-1 stock split. “We see NVDA as best positioned in AI, benefiting from their full stack AI hardware, networking, and software solutions,” Schafer said. The analyst also upped his 2024 and 2025 full-year earnings estimates to $2.62 and $3.32 per share to account for the split. “We see several structural tailwinds driving sustained outsized topline growth in high performance gaming, datacenter/AI and autonomous driving vehicles,” he added. — Brian Evans 5:41 a.m.: JPMorgan says buy Shopify Shopify is the “online sale you don’t want to miss,” according to JPMorgan. The bank initiated the e-commerce stock with an overweight rating. Its price target of $74 implies upside of 17.4% from Monday’s close. Shares of Shopify have been under pressure this year, losing 19.1%. However, analyst Reginald Smith thinks this decline has created a buying opportunity for investors. SHOP YTD mountain SHOP year to date “We believe Shopify’s product breadth, ease of use, and scale are distinct competitive advantages that will continue to fuel industry-leading growth,” Smith wrote. “We model 18% compounded revenue growth through ’26 as SHOP benefits from the secular shift toward e-comm and scales growth initiatives and think the recent pullback creates an attractive entry opportunity for new investors.” Shopify shares were up 1% on the back of the bullish initiation. — Fred Imbert
