FBR Capital Markets Is Surprised By Stronger 3Q14 GPU Shipments From NVIDIA

In a report published Friday, FBR Capital Markets analyst Christopher Rolland reiterated a Market Perform rating and $20.00 price target on NVIDIA NVDA. In the report, FBR Capital Markets noted, “We rate NVDA shares Market Perform and maintain our price target of $20. Regarding shares, bears will say NVIDIA faces long-term secular PC headwinds, falling GPU attach rates, and a lack of wireless traction. Bulls will say NVIDIA is making great strides in diversifying outside of PCs and into Quadro, Tesla, GRID, and Tegra. We remain neutral on the shares, at Market Perform, with a price target of $20, as we believe the company's focus on opex controls may drive upside to EPS.” NVIDIA closed on Thursday at $17.46.