FBR Capital Markets Expects News About NVIDIA from Annual Investor Day

In a report published Monday, FBR Capital Markets analyst Christopher Rolland reiterated a Market Perform rating and $17.00 price target on NVIDIA (NASDAQ: NVDA).In the report, FBR Capital Markets noted, “NVIDIA Corporation (NVDA) is scheduled to host its annual investor day Tuesday, March 25. Jen-Hsun often throws a ‘wrinkle' or two into his presentations, and we would expect the same this year. Whereas last year the company had an interim CFO, this year the company has a full-time acting CFO, and therefore we expect a more detailed financial presentation. In particular, the company may provide more explicit long-term targets around its cash return strategy. We would also anticipate an update into Tegra, which may include details into the design-win pipeline, Icera baseband uptake (particularly with the recent MS Surface 2 baseband win), Tegra auto, R&D investment, and road map developments (64-bit SoC update)."In addition, we expect an update into the company's GRID initiative, and we believe NVIDIA is likely to de-emphasize its SHIELD initiative. While a meaningful update on its IP licensing opportunity could be impactful, we are doubtful there are any significant developments. We also anticipate updates on core gaming products, as well as Quadro and Tesla.”NVIDIA closed on Friday at $18.54.