Jefferies analyst Mark Lipacis raised his price target for Nvidia shares to $230, which reflects a 29 times multiple to his three-year earnings per share estimate of $8.00. The chipmaker closed Friday down 90c to $196.60. Field work indicates Nvidia’s most recent datacenter GPU solution, Volta, keeps the company well ahead of competition in neural network training, Lipacis tells investors in a research note. He believes this will translate to upside surprises over the next 18-24 months. Further, multi-year growth prospects in Gaming, Datacenter and Automotive could drive Nvidia’s earnings per share to $13.00 in five years, the analyst contends. He keeps a Buy rating on the shares.
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