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UPDATE: Macquarie Downgrades NVIDIA on Potential Impact of Cloud Computing

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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
Aug 2015Morgan StanleyMaintainsUnderweight
Aug 2015Roth CapitalUpgradesNeutralBuy
Aug 2015Canaccord GenuityMaintainsHold

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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