NVIDIA (NVDA) PT Raised to $95 at Jefferies
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Jefferies analyst Mark Lipacis reiterated a Buy rating and lifted its price target on NVIDIA (NASDAQ: NVDA) to $95.00 (from $80.00) following blow-out results.
commented, "OctQ revs/EPS of $2 billion/$0.83 beat consensus by 19% and $0.27, implying an upward bias of ~$1 on consensus FY18 EPS, and reinforcing our thesis that NVDA is a play on 4 secular trends. Its core business, Gaming (62% of sales), grew by 63% YY, but we think its Datacenter (up 193%YY) and Auto (up 61% YY) businesses, now 18% of total, are in nascent growth stages and will continue to drive upside surprises. We estimate $5 of EPS power in 3-yrs."
The firm raised Q4 EPS from $0.51 to $0.81, FY 2017 EPS from $1.80 to $2.40 and FY 2018 EPS from $1.85 to $2.47.
Shares of NVIDIA closed at $67.77 yesterday.
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