Morgan Stanley Upgrades Nvidia, Sees Outperformance In 2019

Investing.com - Morgan Stanley (NYSE:MS) has upgraded Nvidia, saying the chipmaker will beat earnings expectations in its 2019 fiscal year.In a note to investors, the Wall Street firm raised its rating from equal-weight to overweight and also reiterated its 12-month, stock-price target of $258 a share.Morgan Stanley said strength in Nvidia's gaming and artificial intelligence businesses will drive profits. Bank of America (NYSE:BAC) also recently upgraded Nvidia, calling it "one of the more unique investments in semis/technology".Two other brokerage firms recently downgraded Nvidia because of concerns about a decline in its cryptocurrency mining business.Both Morgan Stanley and Bank of America, however, downplayed that impact on its overall performance.Nvidia shares are up about 120% in the past 12 months..