NVIDIA (NVDA): Wedbush Increases PT After Conference Presentation

Wedbush analyst, Betsy Van Hees, raised her PT to $52 from $42 after NVIDIA (NASDAQ: NVDA) presented at the Wedbush conference. NVDA highlighted the DRIVE PX 2, the next gen DRIVE PX Auto-Pilot, and DRIVE CX Cockpit Computers powered by the next-generation Tegra X1. The DRIVE PX 2 features, 12 CPU cores, 4 Tegra chips each with Pascal, combined 8 TFLOPS, deep learning, 16nm FF, 250w, and liquid cooled compared to the 1st gen PX that has two Tegra X1 chips, input for up to 12 cameras, and can process up to 1.3 gigapixels per second. The PX 2 utilizes deep learning on NVDA’s most advanced GPUs for 360-degree situational awareness around the car, to determine precisely where the car is and to compute a safe, comfortable trajectory. NVDA expects that consumers will be able to purchase an automobile in the next 12 months with the Drive PX 2, and it will most likely be utilized in an autopilot function. Audi will have NVDA products in next year's A8 model, and as most automakers are moving towards autonomous driving technologies, NVDA believes adoption will occur in incremental steps over the next 5+years.

No change to Outperform rating, price target increases to $52.00 (from $42.00).

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 $46.88 yesterday.

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