Barclays Maintains an 'Equalweight' on NVIDIA (NVDA); In-line Guide Offsets Negative Sentiment

Barclays maintains an 'Equalweight' on NVIDIA (NASDAQ: NVDA) price target lowered $1 to $14.

Barclays analyst says, "Considering a handful of downgrades this week, an in-line Jan Q guide from NVDA is likely a near-term positive (shares higher after market). This said, we continue to see fair value at $14 which is based on concerns regarding some of NVDA's core businesses (see NB discrete attach rates slowing, increasing competition in apps processor and lack of integrated chip) offset partially by positive view on core DT and professional business. We continue to see ~$1+ of earnings power in CY12/13 which means shares at ~$15 (after-market) are fully valued."

"Tweak FY11/12 Estimates, Maintain $14 Target: We model Jan Q of $1.07B/$0.27 (old $1.08B/$0.28, consensus $1.07B/$0.26), FY12 of $4.12B/$1.07 (consensus $4.11B/$0.99), & FY13 of $4.35B/$1.10, consensus $4.32B/$1.11)."

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 $14.47 yesterday.

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