NVIDIA (NVDA) PT Lifted to $38 at Jefferies

Jefferies analyst Mark Lipacis reiterated a Buy rating and raised his price target on NVIDIA (NASDAQ: NVDA) to $38.00 (from $34.00) following results, saying their upgrade thesis is playing out.

Lipacis commented, "NVDA's OctQ beat and raise reinforces our 17-Sep upgrade thesis that PC-Gaming is an under-the-radar growth driver and there are multiple ways for NVDA investors to win. Gaming revs increased by 44% YY, while Auto increased by 50% YY. Looking forward, we expect Datacenter to drive growth and we think the upside from Virtual Reality (not yet in our model) could be massive. We continue to sense investor skepticism and believe the pain-trade is still up."

The firm raised Q4 EPS from $0.27 to $0.33 and FY 2016 EPS from $0.79 to $1.05.

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 $27.71 yesterday.

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