Needham & Company Reiterates a 'Buy' on NVIDIA (NVDA); Positive Momentum at Mobile World Congress

Needham & Company reiterates a 'Buy' on NVIDIA (NASDAQ: NVDA) price target of $20.00.

Analyst, says, "We are incrementally more positive on NVDA during our trip at MWC this week. NVDA announced five Tegra 3 smartphone designs, namely the HTC One X, and several Icera modem wins. On the quad-core front, NVDA has a demonstrable lead over QUALCOMM (Nasdaq: QCOM) and TI (NYSE: TXN) who are at least six months behind. NVDA is gaining additional traction in the broader smartphone market with flagship design wins at ZTE. In addition, NVDA is well positioned on Windows 8 on ARM, which could add significant revenues in CY13. We believe NVDA’s shares should work in the 2H as we see evidence of Tegra 3 phones/tablets selling and additional details on Windows 8 OS. (Nasdaq: MSFT)"

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 $15.33 yesterday.

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