UPDATE: Morgan Stanley Reiterates On NVIDIA On Margin Upside From GPUs

In a report published Friday, Morgan Stanley analyst Joseph Moore reiterated an Underperform rating on NVIDIA Corporation NVDA, and raised the price target from $14.00 to $15.00. In the report, Morgan Stanley noted, “In-line revs, but GM upside and slightly better revenue outlook surprised us, given inventory reduction at competitor, AMD. As spot shortages ease we think GMs come back a bit. The company is executing well but we see the stock as expensive, and remain UW, albeit with higher PT.” NVIDIA Corporation closed on Thursday at $17.46.