Buy NVIDIA (NVDA) Ahead of Print - Jefferies; PT Upped to $69
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Jefferies analyst Mark Lipaci reiterated a Buy rating and raised his price target on NVIDIA (NASDAQ: NVDA) to $69.00 (from $56.00), saying they would be buyers ahead of the company's July quarter print.
"We think NVDA products have momentum and that there is high probability for more upside surprises over the next 6-18 months. We view the JulQ (+4% QQ) as achievable, and the OctQ/JanQ (+7%/+2%) as conservative given the launch of its new 16nm GPU platform Pascal (both Gaming and Datacenter), and initial ramp of high-ASP/ margin Virtual Reality products. NVDA remains a top pick - Reiterate Buy."
For 2016 and 2017, the firm's new revenue and EPS projections are $5.67b/$1.60 and $6.13b/$1.75, respectively. Their 3-year GAAP EPS Bull case is $3.50, and we model $2.50 of GAAP EPS in 2018.
NVDA is a Jefferies Franchise Pick stock.
Shares of NVIDIA closed at $58.20 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- NVIDIA (NVDA): Tegra Powering Next Gen Nintendo Switch - Jefferies
- Needham & Company Raises Price Target on II-VI, Inc. (IIVI) Ahead of 1Q Release
- UPDATE: Stifel Downgrades SL Green Realty (SLG) to Hold
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change, Hot Comments
Related EntitiesJefferies & Co, Jefferies Franchise Pick List
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!