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Old 11-11-2016, 06:42 PM   #1
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Default Nvidia stock rockets to record high following earnings shocker

Nvidia stock rockets to record high following earnings shocker
BY MarketWatch
— 12:47 PM ET 11/11/2016
Nvidia ( NVDA) to trade at 'substantial premium' for several more months, says analyst Shares of Nvidia Corp. ( NVDA) rocketed 25% to an all-time high Friday after the company trounced earnings expectations, as newer initiatives in deep learning, virtual reality, data centers, cloud services and driverless cars led to its largest sales growth in six years.
Analysts were overwhelmingly bullish on the stock following the results, with many raising their price targets and estimates for Nvidia's ( NVDA) coming quarters. Target boosts came from SIG Susquehanna Financial Group, to $75 from $65; Raymond James, to $90 from $75; J.P. Morgan, to $85 from $60; B. Riley, to $100 from $85; Canaccord Genuity, to $87 from $80 and Stifel, to $76 from $64.
Barclays upgraded the stock to equal weight from underweight and raised its target to $72 from $54, putting it on the lower-end of the spectrum, but analyst Blayne Curtis said Barclays was "clearly on the wrong side of this one all year" and is now playing catch up.
The average rating on the stock is equivalent to buy, while the average target is $81.48, according to a poll of 30- plus analysts on FactSet.
Shares of Nvidia ( NVDA ) jumped by their highest percentage in 13 years to $84.35 in afternoon trade Friday. They've risen more than 41% in the past three months and 176% in the past year, vastly outperforming both the Dow Jones Industrial Average and S&P 500 , which are virtually flat from three and 12 months ago.

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