NVIDIA (NVDA) PT Lifted to $27 on 'Beat and Raise' Q4

Needham & Company analyst Rajvindra Gill reiterated a Buy rating and boosted his price target on NVIDIA (NASDAQ: NVDA) to $27.00 (from $25.00) following strong Q4 results.

Gill commented, "NVIDIA reported a significant beat and raise after seeing revenue growth in its current quarter coupled with continually impressive GM%. We believe NVDA has been successfully transitioning from a component supplier to a platform-based company focused on the attractive gaming, auto, enterprise and higher performance computing/datacenter end markets. We think the core business excluding the Intel royalty revenue (est $0.40 annual EPS), could approach $1.30-1.40 of earnings power over the next two years, and we would view any replacement of the royalty stream as further upside. Given impressive margin expansion, platform-based business, and attractive end markets, we are raising out PT to $27, maintaining Buy rating."

The firm raised FY 2016 EPS from $1.50 to $1.60.

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 $20.81 yesterday.

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