NVIDIA (NVDA): Capacity Constraint More Than Offsets Seasonality; $300 PT - BofA
- U.S. stocks, dollar sluggish, all eyes on Fed meet this week
- Chinese Tech Stocks Crushed on Fresh Regulatory Pressure
- Nearly $1 Billion Bitcoin (BTC) Shorts Liquidated Today Amid Amazon (AMZN) Rumors
- Aon (AON) and Willis Towers Watson (WLTW) Mutually Agree to Terminate Combination Agreement
- Dollar edges lower with Fed in focus, cryptocurrencies jump
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
BofA/Merrill Lynch analyst, Vivek Arya, reiterated his Buy rating on shares of NVIDIA (NASDAQ: NVDA) and raised his price target to $300 from $275 after the company reported $2.9bn in sales surging 34% y/y, or $241mn/10% ahead of consensus. The analyst estimates. about half of the upside came from crypto-mining (11% of sales in Q4 vs 8% in prior quarter).
The analyst stated "We sense NVDA was capacity constrained during the quarter, which likely kept lid on more strength in the PC gaming segment. For Q1, NVDA’s $2.9bn sales outlook is $460mn/19% ahead of cons, and likely indicates improved availability of gaming cards that helps offset normal seasonality".
Shares of NVIDIA closed at $217.52 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- HubSpot Inc (HUBS) PT Raised to 'Street High' $700 at BofA Securities
- Ally Financial (ALLY) PT Raised to $74 at BofA Securities After Reporting Blowout EPS
- Schlumberger (SLB) PT Raised to $38 at Stifel
Create E-mail Alert Related CategoriesAnalyst EPS Change, Analyst EPS View, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!