UPDATE: Stifel Reiterates on NVIDIA Ahead of 2014 Investor Day

In a report published Wednesday, Stifel analyst Kevin Cassidy reiterated a Buy rating on

, and raised the price target from $19.00 to $21.00. In the report, Stifel noted, “In this note we provide a preview of topics we expect Nvidia management to discuss during its 2014 Investor Day to be held in San Jose, CA on Tuesday, March 25. In summary, we expect discussions around many new product initiatives that, in our estimates, can provide upside to consensus revenue, gross margin and earnings estimates. "We are particularly positive on the company's opportunity for gross margin expansion in FY16. We see potential upside in professional GPU and automotive segments. We are increasing our FY16 non-GAAP EPS to $1.30 and our 12-month price target to $21.” NVIDIA closed on Tuesday at $18.24.