Investments

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

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

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.

Morgan Stanley raised its rating on Nvidia to overweight from equal weight, 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 4.3% in trading Monday.

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