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Needham ups Nvidia price target on data center potential

Published 10/13/2017, 08:50 AM
© Reuters.  Needham ups Nvidia price target on data center potential
NVDA
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  • Needham raises its Nvidia (NASDAQ:NVDA) price target by $50 to $250.
  • The increase follows conversations with CEO Jensen Huang at the GTC conference that made the firm optimistic about Nvidia’s data center potential.
  • Needham estimates that the data center TAM could total between $21B and $35B in the next five years, though it could take several years for Nvidia to capture the market.
  • The firm thinks some of this growth potential is already priced in but argues that Nvidia deserves a higher multiple.
  • Nvidia shares are up 1.06% premarket.
  • Now read: Nvidia's Drive PX Pegasus Is A Royal Flush For Self-Driving Cars


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