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RBC Capital raises Nvidia target to 15% upside

Published 03/14/2018, 10:20 AM
© Reuters.  RBC Capital raises Nvidia target to 15% upside
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  • RBC Capital maintains an Outperform rating and raises its Nvidia (NASDAQ:NVDA) price target by $5 to $285, a 15% upside to yesterday’s close.
  • RBC says Nvidia will face a “notable slowdown” in cryptocurrency benefits going forward.
  • Analyst Mitch Steves: "With crypto currencies acting as a boost in FY18E, we take a conservative approach and assume that a notable slowdown occurs in FY19E. Higher end chips typically lead to better mining capabilities and the lower end products will unlikely sell out consistently."
  • But the firm sees an upside scenario of +$12 FY21E EPS, expresses confidence in data center spending, sees solid gaming results, and expects higher long-term margin expectations for Pro Visualization and Gaming.
  • Nvidia shares are up 0.1% to $247.94. Shares are up 28% YTD and up 143% in the past year.
  • Now read: Apple (NASDAQ:AAPL): Reasons For Optimism Going Into Earnings


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