- Despite opening the week 3% lower, Nvidia (NASDAQ:NVDA) shares remain higher by 20%+ since reporting strong Q3 earnings and positive Q4 outlook last Thursday.
- On the report and subsequent run-up, analyst Rajvindra Gill upgrades from Hold to Buy and forecasts further upside as expanded markets become targeted and long-term secular trends involving automotive prospects, machine learning, artificial intelligence and graphics virtualization in the data center, and virtual reality devices within PC and gaming markets generative of higher graphics content play out.
- Models FY 2016 revenue at $6.837B, EPS at $2.93 (from $6.04B, $2.27 prior) and FY 2017 at $7.834B and $3.10 for revenue and EPS, respectively (from $6.34B, $2.20).
- Previously (November 11): Barclays (LON:BARC), Pacific Crest Securities sidelined on Nvidia amid 26% run
- Previously (November 11): RBC Capital Markets, Jefferies raise Nvidia to $95 targets
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Nvidia set with $100 target at Needham & Company
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