NVIDIA (NVDA) Shares Lower as ThinkEquity Cuts Price Target/Estimates Amid Expected
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Price: $13.72 -1.29%
Rating Summary:
7 Buy, 15 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
7 Buy, 15 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Shares of NVIDIA (Nasdaq: NVDA) are slumping Wednesday morning following a price target and estimate reduction at ThinkEquity.
NVIDIA last traded at $18.28, down 4.6 percent from Tuesday's closing price.
ThinkEquity now sees NVIDIA shares trading around $18 in a year, down from a prior price target of $24. The firm is more pessimistic on PC sales over the remainder of 2011 following the numerous disasters in Japan. ThinkEquity sees "supply bottlenecks in silicon wafers, chemicals, displays, batteries, etc..." affecting not only PC sales, but also tablet and smartphone growth.
The firm cut its FY12 EPS estimate on NVIDIA from $1.18 to $1.10 and its sales estimate from $4.18 billion to $4.08 billion. The Street is currently looking for FY12 EPS of $1.04 and sales of $4.09 billion.
To track all the market-moving analyst action on shares of NVIDIA, visit our Analyst Ratings page.
NVIDIA last traded at $18.28, down 4.6 percent from Tuesday's closing price.
ThinkEquity now sees NVIDIA shares trading around $18 in a year, down from a prior price target of $24. The firm is more pessimistic on PC sales over the remainder of 2011 following the numerous disasters in Japan. ThinkEquity sees "supply bottlenecks in silicon wafers, chemicals, displays, batteries, etc..." affecting not only PC sales, but also tablet and smartphone growth.
The firm cut its FY12 EPS estimate on NVIDIA from $1.18 to $1.10 and its sales estimate from $4.18 billion to $4.08 billion. The Street is currently looking for FY12 EPS of $1.04 and sales of $4.09 billion.
To track all the market-moving analyst action on shares of NVIDIA, visit our Analyst Ratings page.
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