NVIDIA (NVDA) PT Lowered to $237 at SunTrust Robinson Humphrey
SunTrust Robinson Humphrey analyst William Stein lowered the price target on NVIDIA (NASDAQ: NVDA) to $237.00 (from $316.00) while maintaining a Buy rating, saying the surprisingly weak Q4 guide appears temporary.
"NVDA guided Q4 ~20% below consensus revs as the company halts ~1/3 of gaming segment sales to flush channel inventory built during the crypto enthusiasm in 1H18," Stein commented. "This badly damages near-term revenue and profits, but Datacenter, Pro-Viz, and Automotive results support our structural growth view."
Gaming resets their 2019 & 2020 EPS to $7.33 & $8.70 (from $8.18 & $9.59).