Nomura Securities Maintains a 'Buy' on NVIDIA (NVDA); Incremental Revenues Driven From Surface

Nomura Securities maintains a 'Buy' on NVIDIA (NASDAQ: NVDA) price target of $18.00.

Analyst, Romit Shah, said, "While we recognize that non-Apple (Nasdaq: AAPL) tablets thus far have been a flop, Win RT (Nasdaq: MSFT) tablets will include Office and a full keyboard embedded in a thin touch cover. Those are interesting features, in our opinion, that should drive incremental revenue for Nvidia."

"Our best guess is that a pre-build of 4-5mn units would drive an incremental $80-100mn in the back half of the year. Our estimate of $550mn from Tegra does not assume any contribution from Win RT in 2012....We continue to be positive on shares of Nvidia, which trade at a historically low multiple of 12x earnings and 1x ev/sales."

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 $12.40 yesterday.

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