Nvidia Received its Third Buy in a Row
According to The Fly, after MKM Partners and Jefferies assigned a Buy rating to Nvidia in the last month, the company received another Buy, this time from UBS. Analyst Stephen Chin reiterated a Buy rating on Nvidia (NASDAQ: NVDA) today and set a price target of $43. The company’s shares opened today at $39.19. Chin wrote, “We reiterate our Buy rating on NVIDIA as we expect further upside in data center sales from initial deep learning/AI driven demand and gross margin expansion from a richer product mix in addition to secular growth in gaming and automotive. Apr-16 upside revenue/EPS of $1.31B / $0.46 was driven by better than expected data center Tesla chip sales of $143M (+47% QoQ, +63% YoY) as hyperscale cloud operators build out deep learning acceleration capabilities,…
Link to Full Article: Nvidia Received its Third Buy in a Row
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