- Though upgrading Nvidia (NASDAQ:NVDA) from Underweight on admittance Barclays (LON:BARC) had "been clearly on the wrong side of this one all year," analyst Blayne Curtis moves just one notch upward in terms of rating to Equal weight and sets a $72 target from $54 prior (current price $85.72). Notes: "The biggest area of outperformance vs. our expectations was in the data center where NVDA has tripled its business y/y. While we would argue that GPUs are not the best fit for Inference applications, it is clearly still early and NVDA is in command of the market." Further models Q4 revenue at $2.06B-$2.14B (vs. company-issued $2.10B and consensus $1.69B).
- Pacific Crest Securities, restating at Sector Weight, sees shares fairly valued at $80. Analyst Michael McConnell notes: "We remain on the sidelines with the shares given peaking GPU unit share versus AMD, modest operating-margin expansion in F2018 and the stock’s premium valuation." For Q4, forecasts revenue of $1.76B, gross margin of 58.1% (vs. company-issued 59.2%) and EPS of $0.80 (vs. consensus $0.57).
- Earlier: RBC Capital Markets, Jefferies raise Nvidia to $95 targets
- Yesterday: Nvidia +13%, strong Q3 reported
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Barclays, Pacific Crest Securities sidelined on Nvidia amid 26% run
Published 11/11/2016, 12:32 PM
Barclays, Pacific Crest Securities sidelined on Nvidia amid 26% run
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