Way to go NVDA, one story, two actions, three brokerage firms.
NVIDIA: CSFB would look to sell into any strength (NVDA) 9.87: CSFB thinks the qtr was good (EPS of $0.16 vs firm's est of $0.06), but thinks some questions remain unanswered. For example, given co's 60-day guaranteed order book from MSFT, it does not seem plausible that uncertainty regarding XBOX revs could be the cause of the lack of revenue guidance - as NVDA suggested. Firm believes stock is fairly valued at $10.50, and given indications by most reviews that NV30 isn't as great as expected, lack of SEC resolution, and shrinking addressable mkt, firm would sell into any strength.
NVIDIA upped to Overweight from Equal-Weight at Morgan Stanley; target $27 (NVDA) 9.87: -- Update -- The upgrade reflects co's solid Q4 report and firm's belief that they suggest co's fundamentals will rapidly improve during the next one to two years. Morgan Stanley raises 2004 est to $0.85 from $0.60 (Multex consensus $0.51) and initiates 2005 with a $1.35 est. Believes co offers the potential for strong earnings growth and meaningful positive earnings surprises in future qtrs. Firm raises price target to $27 from $18.
NVIDIA upped to Buy from Mkt Perform at Thomas Weisel (NVDA) 9.87: -- Update -- This is NVDA's second upgrade of the morning. Thomas Weisel believes stock is compelling at current levels. Firm establishes a 6-month price target of $15, based on 20x projected CY03 earnings of $0.75.
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