UPDATE: Canaccord Genuity Upgrades NVIDIA (NVDA) to Buy; PC Weakness Offset By LTE & Tablets
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Price: $14.87 +1.64%
Rating Summary:
10 Buy, 21 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
10 Buy, 21 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade NVDA Now!
(Updated - June 25, 2012 8:20 AM EDT)
Canaccord Genuity upgraded NVIDIA (NASDAQ: NVDA) from Hold to Buy with a price target of $16.00 (from $13.00).
Analyst, Bobby Burleson, said, "Upgrading on positive near- and medium-term drivers. NVDA appears positioned to offset near-term PC weakness through Tegra strength and Kepler revenues that were guided by limited 28nm wafer supply, not PC demand. In-line results should distinguish NVDA from other PC-weighted names that appear likely to have near-term number cuts, in our view. Next year, we believe Tegra should continue to benefit from Surface and other tablet wins secured in H2/12, as well as a bundled LTE solution slated for introduction H1/13 (likely in time for Mobile Word Congress)."
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 $13.00 yesterday, with a 52 week range of $11.47-$16.90.
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Canaccord Genuity upgraded NVIDIA (NASDAQ: NVDA) from Hold to Buy with a price target of $16.00 (from $13.00).
Analyst, Bobby Burleson, said, "Upgrading on positive near- and medium-term drivers. NVDA appears positioned to offset near-term PC weakness through Tegra strength and Kepler revenues that were guided by limited 28nm wafer supply, not PC demand. In-line results should distinguish NVDA from other PC-weighted names that appear likely to have near-term number cuts, in our view. Next year, we believe Tegra should continue to benefit from Surface and other tablet wins secured in H2/12, as well as a bundled LTE solution slated for introduction H1/13 (likely in time for Mobile Word Congress)."
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 $13.00 yesterday, with a 52 week range of $11.47-$16.90.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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