On Wednesday, shares of Nvidia Corp. (NASDAQ: NVDA) rose toward a sixth straight gain, after being upgraded by Suntrust Robinson Humphrey analyst William Stein, who said he underestimated the growth potential in Nvidia’s core markets.

He boosted his price target to $177, 10% above what it was at, $124 midday trade.

The stock climbed 3% to surpass the June 8 record closing level of $159.94, and the next day reached it’s all-time intraday high of $168.50. The stock has now run up 15% since it last declined on July 3^rd, at a seven-week low.

He expects the stock to continue to outperform the broader market over the next year, because of said potential for earnings and sales across most segments as we transition into a newer age of technology and devices, but particularly in the datacenter for artificial center space.

Nvidia has also had an emergence as a major player of cryptocurrency mining markets, which has also helped investor optimism as of late.

However, what Stein said he believes is the company’s key factors to success are that Nvidia has a strong culture of innovation and desire to drive general purpose for a graphics processing unit, the fact that Nvidia has a product that is more relevant for customers and harder to replicate, and the company has created an environment where deep learning for artificial intelligence flourishes through its sponsorship of academic research.

Nvidia’s stock has more than tripled over the past year, as opposed to the PHLX Semiconductor Index SOX jump of 51.6%, and the S&P500 SPX 13.5% rise.

Corp. rose toward a sixth straight gain, after being upgraded by Suntrust Robinson Humphrey analyst William Stein, who said he underestimated the growth potential in Nvidia’s core markets.

He boosted his price target to $177, 10% above what it was at, $124.midday trade,

The stock climbed 3% to surpass the June 8 record closing level of $159.94, and the next day reached it’s all-time intraday high of $168.50. The stock has now run up 15% since it last declined on July 3^rd, at a seven-week low.

He expects the stock to continue to outperform the broader market over the next year, because of said potential for earnings and sales across most segments as we transition into a newer age of technology and devices, but particularly in the datacenter for artificial center space.

Nvidia has also had an emergence as a major player of cryptocurrency mining markets, which has also helped investor optimism as of late.

However, what Stein said he believes is the company’s key factors to success are that Nvidia has a strong culture of innovation and desire to drive general purpose for a graphics processing unit, the fact that Nvidia has a product that is more relevant for customers and harder to replicate, and the company has created an environment where deep learning for artificial intelligence flourishes through its sponsorship of academic research.

Nvidia’s stock has more than tripled over the past year, as opposed to the PHLX Semiconductor Index SOX jump of 51.6%, and the S&P500 SPX 13.5% rise.