Wedbush Maintains Outperform Rating and $18 PT on NVIDIA

A report from Wedbush reiterates its Outperform rating and $18 price target on NVIDIA (NASDAQ: NVDA).

The report states, “We were pleasantly surprised by NVIDIA's (NVDA) nice FQ3 (Oct) bottom-line beat and impressive in-line FQ4 (Jan) top-line guidance, driven by strength in desktop GPUs, Tegra, and Quadro products despite the challenging macro and consumer notebook weakness… recommend investors add to positions as we believe NVIDIA's shift to a leading solutions provider to the expanding mobile market remains in the early innings.”

NVDA closed yesterday at $14.47.