Canaccord Genuity Maintains a 'Hold' on NVIDIA (NVDA); May See Short-Term Benefit Despite PC Weakness

June 8, 2012 8:42 AM EDT
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Price: $102.95 --0%

Rating Summary:
    24 Buy, 17 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 23 | Down: 31 | New: 34
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Canaccord Genuity maintains a 'Hold' on NVIDIA (NASDAQ: NVDA) price target of $13.00.

Analyst, Bobby Burleson, said, "While we remain HOLD rated on NVDA based on slowing secular growth for PCs, we believe the stock could see a short-term benefit from increasing confidence on July quarter estimates. In our view, a shortfall on weak PC trends is unlikely given guidance was colored more by supply considerations than by consumer PC demand. We also think Tegra momentum is healthy based in part on strong demand for international smartphone models. HTC's lowered view is not necessarily negative for NVDA considering the sources of weakness fall largely outside of NVDA-based models. As far as taking a longer-term more positive stance on the stock, we are evaluating the opportunities for NVDA in Windows RT and bundled LTE solutions in the back half of next year."

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 $11.89 yesterday.

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