Canaccord Ups Nvidia Target To

By Teresa Rivas Nvidia (NVDA) is higher Monday, and Canaccord expects more gains ahead. Photo: Pixabay Analyst Matthew Ramsay and his team reiterated a Buy rating and raised their price target by $5, to $60 on Monday. Ramsay writes that the move comes after the launch of Pascal and recent strong growth in enterprise and automotive revenue. These developments support his believe that Nvidia’s transformation from a PC-leveraged GPU supplier to a diverse visual-computing company is now complete. Given this, its four target growth markets—gaming, enterprise, HPC/cloud, and automotive –are now driving growth and overall earnings power, representing more than 90% of non-IPR revenue. He writes that his positive thesis continues to play out as applications of highly parallel GPU computing expand and developer tools and deep learning algorithms mature.…

Link to Full Article: Canaccord Ups Nvidia Target To

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