UPDATE: FBR Upgrades Nvidia to Outperform

According to FBR, Nvidia

is upgraded to Outperform. FBR said that it upgrades NVDA from Market Perform to Outperform ahead of Mobile World Congress (MWC), beginning February 27. “We raise from MP to Outperform, our CY 2012 GAAP EPS estimate from $0.80 to $0.90, our CY 2013 estimate from $0.85 to $0.95, and our PT from $17 to $20, an 18x target P/E multiple (2012 inc stock comp), we think appropriate given the growth and margin profile.” Nvidia closed on Friday at $15.90.