Why Nvidia's Stock Is Trading Higher Today

NVIDIA Corporation NVDA shares are trading higher after Jefferies maintained a Buy rating on the stock and raised its price target from $740 to $854.

Over the past three months, the company's stock has rallied about 45%, setting a new 52-week high of $747.50.

Nvidia is the leading designer of graphics processing units that enhance the experience on computing platforms.

Nvidia's stock was trading about 4.5% higher at $744.60 per share on Thursday at the time of publication. The stock set a new 52-week high of $747.50 and a 52-week low of $356.