Morgan Stanley upgrades Nvidia to buy, predicting 2020 will be 'a return to solid growth'

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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.

David Paul Morris | Bloomberg | Getty Images

Morgan Stanley raised its rating on Nvidia 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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