Needham & Company Sees Post-Earnings Rally in NVIDIA (NVDA)

Analysts at Needham & Company think an in-line print/guide could prompt a "well-deserved" rally in shares of NVIDIA (NASDAQ: NVDA) Today analysts at the firm maintained their Buy rating and $20 price target on stock.

"Unlike several semiconductor companies that have guided down during this earnings cycle, we believe NVDA could meet and/or beat F2Q13 and F3Q13," said Rajvindra S. Gill.

"Tegra revenues are tacking well with growth stemming from the China handset market (18 of 30 of Tegra design wins are sold into China), good sell-through for Non-Apple tablets (namely Google Nexus and Asustek Transformer Prime), and the build for MSFT’s Surface RT tablet. On the graphics side, we expect revenues to come in line with expectations despite the lackluster PC environment, driven by share gains against AMD (28nm Kepler) and ramp of Apple’s MacBook Pros (using NVDA’s discrete GPU)," said Gill.

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 $14.01 yesterday.

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