Morgan Stanley raised its rating on Nvidia to overweight, expecting it to lead semiconductor stocks higher in 2020.
Jensen Huang, president and CEO of Nvidia, speaks during the company's event at the 2019 Consumer Electronics Show in Las Vegas on Jan. 6, 2019.to overweight from equal-weight on Monday, as the firm sees the stock racing even higher in 2020 after a solid performance in a competitive year among semiconductor companies.
Nvidia's stock is up nearly 60% this year as of its previous close at $210.89. Shares of Nvidia rose 2.5% in premarket trading.
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