NVIDIA (NVDA) PT Lifted to $21 at Jefferies Following Q3

Jefferies analyst Mark Lipacis bumped his price target on NVIDIA (NASDAQ: NVDA) to $21.00 (from $19.00) following strong Q3 results but maintained a Hold rating.

Lipacis commented, "NVDA reported a strong quarter, continuing to execute on product cycles in Gaming (gaining share vs. AMD), Enterprise (HPC and Cloud), and Automotive & Embedded market verticals. We think its transition to a platform/ecosystem enabler from a component supplier is balanced by decelerating capital return and premium valuation ex-Intel royalties."

The firm trimmed Q4 EPS from $0.36 to $0.31, FY 2014 EPS from $1.32 to $1.05 and FY 2015 EPS from $1.67 to $1.10.

For an analyst ratings summary and ratings history on NVIDIA click here. For more ratings news on NVIDIA click here.

Shares of NVIDIA closed at $20.22 yesterday.

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