NVIDIA (NVDA) PT Raised to $132 at UBS Following 4Q Report
UBS raised its price target on NVIDIA (NASDAQ: NVDA) to $132.00 (from $120.00) while maintaining a Buy rating. NVIDIA guided Apr-17 sales and non-GAAP EPS to $1.9B and $0.79. NVIDIA also raised its opex guidance to grow teen % yoy which was mostly for AI, autonomous driving, and cloud computing opportunities.
Analyst Stephen Chin commented, "NVIDIA reported strong Jan-17 results that were at the high end of its guidance. We keep a Buy rating as NVIDIA's data center sales grew to $294M, up 3x yoy, and continues to execute very well with limited GPU competition. A key positive was NVIDIA guided data center sales up sequentially in the Apr-17 quarter which we estimate will be up 110% yoy and estimate a $2B annual sale run rate is possible soon if it continues to execute. We expect new applications in health care, retail, transportation, and finance should be future areas of data center sales growth."