Bank Of America Maintains Buy Rating On Nvidia

According to Bank of America, Nvidia NVDA Buy rating is maintained. Bank of America said that post Q2 results it maintains Buy on Nvidia on its secular growth drivers in Tegra (smartphones, tablets, Windows on ARM), Tesla/Quadro (enterprise) and stability in its core GPUs. “Valuation around 10x forward PE ex $4/sh net cash is compelling given multiple long-term growth drivers, in our view.” Nvidia closed yesterday at $13.41.