UPDATE: Morgan Stanley Downgrades NVIDIA (NVDA) to Underweight

November 18, 2013 7:02 AM EST
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Price: $105.09 +1.04%

Rating Summary:
    24 Buy, 17 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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(Updated - November 18, 2013 9:23 AM EST)

Morgan Stanley downgraded NVIDIA (NASDAQ: NVDA) from Equalweight to Underweight with a price target of $13. Analyst Joseph Moore thinks NVIDIA stock is priced for substantial earnings improvement that is still "uncertain." Despite growth in Tegra 5, Icera, Moore doesn't think the stock deserves a premium relative to peers. In addition, Moore cited concerns about Intel royalties and uncertainty regarding a cross-licensed patent deal.

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 $16.17 yesterday.

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