JMP Securities is taking HP’s (HPQ) better-than-expected Q2 results as reason to reiterate its Market Outperform ratings on both Intel (INTC) and Nvidia (NVDA).
JMP analyst Alex Gauna cites “exceptionally strong desktop and workstation results” from HP. He keeps a $25 price target on Nvidia shares and a $30 target for Intel. He also raised his Intel CY10 EPS estimate by five cents to $1.95 and his CY11estimate by 10 cents to $2.20.
“Intel is offering greater performance and performance improvements across more product categories (server, mobile, embedded) and supporting more operating systems (Windows, Mac, Linux, and Android/Chrome) than at any point in corporate history,” he writes in a research note, “and we believe HP�s ability to lever these benefits into higher ASPs while accreting margins represents a powerful leading indicator that consumers and businesses are responding to and will continue to respond to the most compelling value proposition the computing industry has ever seen, in our view.”
In today’s session:
- Intel is up 21 cents, or 1%, to $21.64
- Nvidia is up 16 cents, or 1.3%, to $12.72
- HP is up 56 cents, or 1.2%, to� 47.35
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