Buy NVIDIA (NVDA) Ahead of Print - Jefferies; PT Upped to $69

August 8, 2016 6:47 AM EDT
Get Alerts NVDA Hot Sheet
Price: $71.87 --0%

Rating Summary:
    21 Buy, 19 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 1 | Down: 2 | New: 2
Trade NVDA Now!
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium 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.

For an analyst ratings summary and ratings history on NVIDIA click here. For more ratings news on NVIDIA click here.

Shares of NVIDIA closed at $58.20 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change, Hot Comments

Related Entities

Jefferies & Co, Jefferies Franchise Pick List

Add Your Comment