Jefferies Expects More Upside Surprises From NVIDIA Over The Next Year

Jefferies maintained its Buy rating on NVIDIA Corporation (NASDAQ: NVDA) and raised its price target to $73 from $69, noting they expect the company to deliver more upside surprises over the next 12-18 months. According to the analysts, this was the fourth consecutive quarter for which NVIDIA’s outlook beat consensus. Related Link: Apple, Nvidia, Tesla: Trip Chowdhry’s 3 Best Stock Ideas The company’s July quarter beat consensus and its October Quarter revenue outlook for 18 percent q/q growth also beat expectations by 15.3 percent. The company’s datacenter sales of $151 million grew 107 percent year-over-year and 6 percent quarter-over-quarter, beating consensus of $130 million by 16 percent. “We think deep learning could be a larger market than VR, and continue to drive upside for NVDA as tech companies engage in…


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