Nomura Securities Maintains a 'Neutral' on NVIDIA (NVDA); Q2 Review

Nomura Securities maintains a 'Neutral' on NVIDIA (NASDAQ: NVDA) and price target of $15.00.

Nomura analyst, Romit Shah, said, "Reported Q2 GAAP EPS of $0.27 (ex Icera) versus our estimate of $0.25. The outlook for Q3 is better than we expected, driven by licensing revenue from Sony and improvement in GPU and professional graphics. We believe Nvidia could see multiple expansion in the back half due to strong design win activity for Kal-El (Tegra 3) and growing buzz over Windows-on-ARM (MSFT event Sept 14th). The stock trades at less than 1.4x ev/sales vs a 12-month low of 1.0x. We increased our 2012E EPS to $1.00 from $0.95 and 2013E EPS to $1.10 from $1.05."

For more ratings news on NVIDIA click here and for the rating history of NVIDIA click here.

Shares of NVIDIA closed at $13.41 yesterday.

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