William L. Moore
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Nvidia Has A Massive Market Opportunity; SunTrust Upgrades To Buy

Analysts at SunTrust Robinson Humphrey turned bullish on one of 2016's best performing and one of 2017's most hotly debated stocks: NVIDIA Corporation .

SunTrust's William Stein upgraded Nvidia's stock from Hold to Buy with a price target boosted from $124 to $177, mostly due to expectations for revenue and earnings per share upside across all major segments, including Datacenter, Gaming and Automotive.

Stein acknowledged that his original estimates were "under-forecasted" and doesn't reflect the growth potential across all segments. For example, since initiating coverage, the company averaged a year-over-year growth rate of 194 percent in datacenter (106 percent above expectations), 60 percent in gaming (32 percent above expectations) and 41 percent in automotive (10 percent above expectations).

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