Boston, MA 08/11/2014 (wallstreetpr) – At least four investment managers have retained their rating on the shares of NIVIDIA Corporation (NASDAQ:NVDA), which is engaged in creating the graphic chips used in the PCs. However, one financial analyst begged to differ from them and was ready to lift the rating. The four brokerages’ move comes on the heels of NIVIDIA reporting better than expected financial results for the second quarter on August 7 after the market closed.
Rating Lifted
Investment advisor Needham had upgraded Nividia shares to buy on Friday from Hold. However, they have left the price objective unchanged at $23. It meant an upside of 21% is possible from the Friday’s closing price of $19 during the regular trading session.
Rating Maintained
JPMorgan Chase & Co (NYSE:JPM) had maintained its Neutral rating while BMO Capital retained its Market Perform rating and Nomura had kept a rating of Buy on the shares of Nividia. Similarly, Morgan Stanley (NYSE:MS) had reiterated its rating of under perform on the company’s stock.
The price targets of $20, $18, and $22 respectively at JPMorgan Chase & Co (NYSE:JPM), BMO Capital and Nomura were not changed by these three brokerages. However, Morgan Stanley preferred to lift the price objective by $1 to $15 from $14. It meant that there is a possible downtick pressure of 21% from Friday’s closing price of $19.
Other Brokerages
Commenting on the second quarter financial results of NIVIDIA Corporation (NASDAQ:NVDA), Raymond James said that it highlighted exceptional gross margin performance apart from the traction of new product. The company had also provided a solid outlook for the third quarter, and it should alleviate concerns weighing the stock of late. The brokerage had retained its Strong Buy rating with a price tag of $22.
On the other hand, Deutsche Bank believes that the shares of NIVIDIA Corporation (NASDAQ:NVDA) were fully valued and kept a rating of Hold with a price tag of $17, which meant a downside risk is possible. Similarly, MKM Partners said that its Neutral rating thesis was intact since the new initiatives were largely in investment mode only compared to harvest mode. It had kept a price tag of $20.
