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Canaccord Genuity increases Nvidia target to $80 ahead of Q3 reporting

Published 11/07/2016, 11:50 AM
Canaccord Genuity increases Nvidia target to $80 ahead of Q3 reporting
NVDA
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  • From $70 (current price $71.16) and attributed to a "transformation from a PC-leveraged GPU supplier to a diverse visual-computing company" firm considers to be complete and a full quarter of Pascal GPU sales projected to generate upside to current and upcoming quarter.
  • For Q3, analyst Matthew Ramsay forecasts $1.75B (consensus $1.69B) in revenue and EPS of $0.74 (consensus $0.57). For FY 2017, raises model from $6.08B and $2.35 to $6.23B (consensus $6.11B) and $2.47 (consensus $1.86). On FY 2018, sees $6.66B (consensus $6.56B) and $2.46 (consensus $1.93), from $6.36B and $2.25 prior.
  • Nvidia's (NVDA +5.3%) earnings report to come this Thursday.

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