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Nvidia (NVDA) Stock Up, Price Target Raised at Jefferies

NEW YORK (TheStreet) -- Shares of Nvidia (NVDA) were up in mid-morning trading on Monday after the company's stock price target was raised to $69 from $56 with a "buy" rating at Jefferies earlier today.

The rating change comes ahead of Nvidia's 2017 second-quarter results, due out after Thursday's market close.

"We are buyers in front of NVDA's Jul-Q print," Jefferies wrote in the analyst note.

The firm expects in-line results for the current quarter and better-than-expected results for the third and fourth quarter as a result of promising product...