UPDATE: Deutsche Bank Lowers PT to $14 on NVIDIA, Maintains Hold

Deutsche Bank reiterates its Hold rating on NVIDIA

and lowers its price target to $14 from $15 as the company lowers guidance. Deutsche Bank says, "NVDA lowered its rev guidance citing disk shortages caused by the flooding in Thailand. While we expect a flood-related rebound later in CY12, we remain cautious on the co's growth prospects as we expect the Discrete GPU mkt to slow and competition to remain fierce in apps processors. When combined with the elevated opex necessary to compete in the ultra-competitive AP/baseband mkts, we believe EPS growth will prove challenging." NVDA closed at $14.93 a share on Tuesday.