UPDATE: RBC Upgrades NVDA

RBC on Monday upgraded NVIDIA NVDA to Outperform from Sector Perform. RBC analyst Doug Freedman wrote the risk of near-term console revenue loss is removed, given the positive mix-shift focus of the company. Freedman continued to state, "NVDA's ability to leverage its past investments, with a more controlled spending structure ahead on unified, enables strong cash flow that is allowing a focus on capital return ($1.0bil planned for FY15)." Freedman concluded by saying, "We believe the focus of its strategy including i) high-margin growth through vertical leadership; ii) strong B/S and significant liquidity; iii) focus on OpEx (on unified architecture leverages IP investments), is more aligned to facilitate a multi-year growth period in FCF." NVDA shares were up $0.66 to $18.62 from the previous day close of $17.96 at last check.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorUpgradesAnalyst RatingsDoug FreedmanRBC
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!