Thursday brought a fresh batch of analyst coverage initiations, with some of Wall Street's top research shops weighing in on companies they hadn't previously covered. The headliner? Nvidia (NVDA) getting a bullish nod from RBC Capital, though it wasn't the only semiconductor name catching analyst attention.
Semiconductor Optimism Runs High
RBC Capital analyst Srini Pajjuri launched coverage on Nvidia Corp (NVDA) with an Outperform rating and a $240 price target. That's a meaningful vote of confidence considering Nvidia shares closed at $183.14 on Wednesday, giving the price target about 31% upside potential.
But Pajjuri didn't stop there. The analyst also initiated coverage on Micron Technology Inc (MU) with an equally bullish Outperform rating and a $425 price target. With Micron closing at $333.35 on Wednesday, that target implies roughly 28% upside. Apparently Pajjuri sees plenty of room to run in the chip sector.
Banking and Specialty Chemicals Round Out the List
Raymond James analyst Michael Rose started coverage on BankUnited Inc (BKU) with an Outperform rating and a $51 price target. BankUnited shares closed at $45.20 on Wednesday, so that target suggests about 13% upside for the regional bank.
Over in the luxury experiences space, B. Riley Securities analyst Anna Glaessgen initiated coverage on LuxExperience BV-ADR (LUXE) with a Buy rating and a $12 price target. That's a more substantial call, with LuxExperience shares having closed at $8.17 on Wednesday, the target implies nearly 47% potential upside.
The only cautious note came from Truist Securities analyst Peter Osterland, who initiated coverage on AdvanSix Inc (ASIX) with a Hold rating and a $19 price target. AdvanSix closed at $18.44 on Wednesday, so that's basically a "fair value" call suggesting limited near-term movement in either direction.