| 2019-01-28 11:16:32|
NVDA 11:16 01/28 01/28/19
Nvidia price target lowered to $190 from $240 at Benchmark
Benchmark analyst Gary Mobley lowered his price target for Nvidia to $190 from $240 after the company lowered its Q4 revenue and EPS expectations once again, now expecting revenues to come in 18.5% below prior guidance. The shortfall was attributed to more aggressive inventory clearing from the crypto mining bust and slower than expected sales of Nvidia's latest RTX 2K Turing GPU cards, he notes, adding that weaker-than-expected data center sales also contributed to the miss, likely pointing to slowing data center cap-ex, which several other chip companies have also pointed to. Mobley reiterates a Buy rating on the shares.