Nomura Securities Reiterates Buy on NVIDIA (NVDA)

Nomura Securities reiterated their Buy rating and $18 target on NVIDIA (NASDAQ: NVDA) following the company's strong earnings report.

Amid investor skepticism, Nvidia reiterated Tegra guidance of up 50% y/y. In addition, GPU (up 10% y/y) will outgrow PC growth in 2012 on stable attach rates and share gains, noted today’s report by Nomura.

“We believe the strong guidance reflects a great execution on Kepler GPU. Intel and AMD, in contrast, are guiding Q3 rev up 6% and down 1% q/q, respectively,” noted Sanjay Chaurasia.

Nomura raised estimates to $4.4bn/$1.01 from $4.2bn/$0.76 in CY12 and to $4.9bn/$1.25 from $4.6bn/$1.00 in CY13.

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 $14.71 yesterday.

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