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UPDATE: Macquarie Downgrades NVIDIA on Potential Impact of Cloud Computing

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Nvidia Falls Short...And Wall Street Reacts

In a report published Friday, Macquarie Capital analyst Deepon Nag downgraded the rating on NVIDIA Corporation (NASDAQ: NVDA) from Neutral to Underperform, and lowered the price target from $15.00 to $14.00.

In the report, Macquarie Capital noted, “While we like NVIDIA's strong position in the workstation and high performance computing segment, we believe the continued shift towards cloud computing will impact the company's core graphics business and mobile offerings. Given its high relative valuation, we expect multiple compression due to deteriorating fundamentals. As a result, we are downgrading NVDA stock to Underperform from Neutral.”

NVIDIA Corporation closed on Thursday at $15.39.

Latest Ratings for NVDA

DateFirmActionFromTo
May 2015Roth CapitalDowngradesBuyNeutral
May 2015JMP SecuritiesMaintainsMarket Outperform
May 2015Stifel NicolausMaintainsBuy

View More Analyst Ratings for NVDA
View the Latest Analyst Ratings

Posted-In: Deepon Nag Macquarie CapitalAnalyst Color Downgrades Analyst Ratings

 

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