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Nvidia -1.6% as BMO sees steeper graphics card decline

Published 04/10/2017, 02:05 PM
© Reuters.  Nvidia -1.6% as BMO sees steeper graphics card decline
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  • Nvidia (NASDAQ:NVDA) is off 1.6% as BMO Capital Markets notes its manufacturer checks show graphics cards dropping 16% Q/Q in calendar Q1, a steeper decline than the 6% average.
  • "We believe this represents weakness in the channel versus the super-charged growth we have seen in the past several quarters, particularly for Nvidia's graphics business," notes analyst Ambrish Srivastava.
  • Srivastava reiterated an Underperform rating and $85 price target, implying 14% downside from current pricing.
  • Last week, Pacific Crest downgraded shares to Underweight (with a $105.15 price target), and Canaccord Genuity lowered its price target to $125 (but with a Buy rating). Meanwhile, Citigroup (NYSE:C) (Buy) set its price target at $145, implying 47% upside.
  • Previously: Nvidia adding on as Citi says gaming-market concerns 'misleading' (Apr. 05 2017)


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