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UPDATE: FBR Capital Markets Reiterates Outperform Rating, Lowers PT on Nvidia Corporation

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In a report published Monday, FBR Capital Markets reiterated its Outperform rating on Nvidia Corporation (NASDAQ: NVDA), but lowered its price target from $18.00 to $15.00.

FBR noted, “For NVDA, we do think weak PC shipments are weighing on current quarter revenues; however, the firm is benefiting from some incremental tablet goodness with the MS Slate RT and the Google Nexus tablet. We now look for modest growth in calendar 2Q12 (July) and think calendar 3Q12 sales can also grow modestly sequentially, worse than typical seasonality and Street estimates. Regarding shares, NVDA is notoriously difficult to call with fundamental analysis. We generally believe shares are near the bottom of their trading range around $11–$12 and seem overbought near or above $20.”

Nvidia Corporation closed on Friday at $12.56.

Latest Ratings for NVDA

DateFirmActionFromTo
Aug 2014NeedhamUpgradesHoldBuy
Aug 2014JP MorganMaintainsNeutral
Aug 2014BMO CapitalMaintainsMarket Perform

View More Analyst Ratings for NVDA
View the Latest Analyst Ratings

Posted-In: FBR Capital MarketsAnalyst Color Price Target Analyst Ratings

 

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