NVIDIA (NVDA) PT Raised to $73 at Jefferies Following Strong Results Amid Great Product Cycle
- Amazon, health stocks weigh on S&P, Nasdaq; Chevron lifts Dow
- ExxonMobil (XOM) Tops Q3 EPS by 5c; CapEx Light of Views
- Baker Hughes (BHI), General Electric (GE) in Partnership Talks, Not Merger Talks
- AbbVie (ABBV) Tops Q3 EPS by 1c; Boosts FY16 EPS Outlook
- Amazon.com (AMZN) Misses Q3 EPS by 26c, Offers Q4 Guidance
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Jefferies analyst Mark Lipacis reiterated a Buy rating and lifted his price target on NVIDIA (NASDAQ: NVDA) to $73.00 (from $69.00) following strong results.
Lipacis commented, "As we previewed, NVDA's JulQ results and OctQ outlook surprised to the upside on the strong launch of its new 16nm Pascal GPUs. Upside was broad-based, with strength in Deep Learning and ProViz, demonstrating the diversity of apps demanding NVDA's products. NVDA remains a top pick, as we grow more confident in the secular growth vectors driving NVDA's fundamentals. We expect NVDA to deliver more upside surprises over the next 12-to-18 months."
The firm raised FY 2016 EPS from $1.60 to $1.80 and FY 2017 EPS from $1.69 to $1.85.
Shares of NVIDIA closed at $59.70 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Leerink Partners Downgrades McKesson (MCK) to Market Perform
- Jefferies Raises Price Target on Western Digital (WDC) to $75; Reiterates Buy
- FBR Capital Cuts Price Target on Government Properties Income Trust (GOV) to $25
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co
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!