Analysts just raised Nvidia stock price target

Group 1 - Nvidia's stock surged 4.04% to close at $170.70, contributing to a record high for the Nasdaq Composite at 20,677.80 [1] - The surge was driven by the U.S. government's approval of Nvidia's H20 AI chip shipments to China, reopening a $50 billion market [2] - Mizuho Securities raised Nvidia's price target from $185 to $192, maintaining an Outperform rating, indicating strong analyst confidence [2][3] Group 2 - Analyst Vijay Rakesh described the approval as a "big win" for Nvidia, suggesting it could enhance U.S. companies' presence in the AI market [3] - The Relative Strength Index (RSI) for Nvidia reached 78.19, indicating the stock is overbought, reminiscent of a previous correction in June 2024 [4] - Current price movements show a parabolic trend, with signs of potential unsustainable momentum as volume tapers and price stretches from the 20-day moving average [5][6]