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DJ Nvidia Stock Has Long-Term Potential, Analyst Says -- Bar

时间: 2019-03-26 00:00 作者:admin 来源:未知 点击:
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DJ Nvidia Stock Has Long-Term Potential, Analyst Says -- Barrons.com


By Tae Kim

Nvidia investors should ignore its short-term issues and focus on the chip maker's long-term opportunities, according to Piper Jaffray.

The back story. Nvidia shares (ticker: NVDA) have rallied more than 30% year-to-date in anticipation of a sector recovery in the second half of the year. The chip maker's stock is down nearly 25% over the past 12 months, however, after it suffered from weakening demand from the cryptocurrency mining, data center, and gaming markets.

What's new. Piper Jaffray analyst Harsh Kumar on Tuesday initiated coverage on Nvidia stock with an Overweight rating, predicting growth in its gaming segment later this year.

"Despite near-term headwinds, we believe the gaming segment is on track to grow meaningfully in the second half of calendar 2019," he wrote. "Longer term, we believe gaming, along with data-center and automotive, are excellent markets, especially when considering its cutting edge technology and market-leading position."

Nvidia stock was up 2.3% to $177.85 Tuesday.

The analyst noted gaming represented 53% of the company's sales in fiscal 2019. He predicted a rebound in the segment's sales due to the fuller product range such as its mid-range graphics cards.

Looking ahead. Kumar started his price target for Nvidia stock at $200, representing 12% upside to the current stock price.

Last month, Barron's suggested there is risk to the company's valuation multiple as Nvidia's 2019 guidance is dependent on a sharp recovery in PC gaming-card sales later this year. Nvidia announced a $6.9 billion acquisition of semiconductor maker Mellanox Technologies (MLNX) earlier this month.

Write to Tae Kim at tae.kim@barrons.com



(END) Dow Jones Newswires

March 26, 2019 11:38 ET (15:38 GMT)

Copyright (c) 2019 Dow Jones Company, Inc.

(责任编辑:北京赛车pk10)

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