RBC Capital Markets, Jefferies raise Nvidia to targets

Following the company’s highly positive Q3 report. Mitch Steves at RBC Capital Markets, restating an Outperform and moving from a prior $80 target, cites continuing strength in datacenter segment performance (revenue $240M; +193% Y/Y, +54% Q/Q), opportunities in deep learning and robotics sectors along with a secular growth story driven by virtual reality, autonomous driving and infotainment, and deep learning and artificial intelligence. Jefferies’ Mark Lipacis highlights Nvidia’s core gaming business (revenue $1.24B, +63% Y/Y), though notes datacenter and auto (revenue $127M, +61% Y/Y) segments represent young growth areas he expects to contribute to further upside surprises going forward. Reiterates Buy rating, adjusts similarly from an $80 target, and forecasts $5 of EPS power in 3 years. Nvidia (NASDAQ:NVDA) +17.37% to $79.54 pre-market. Q3 earnings call transcript

Link to Full Article: RBC Capital Markets, Jefferies raise Nvidia to targets

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