NVDA Stock: Will NVIDIA’s Q3 Results Impress the Market?

Shares of graphics chips maker Nvidia Corporation (NASDAQ:NVDA) today slipped 33 cents, or 0.48%, to close at $68.77, despite an upbeat assessment from Citi analysts Atif Malik and Amanda Scarnati, who initiated coverage of the stock with a ‘Buy’ rating, and a $90 price target, writing that the stock has spiked more than 108% since January 1, but that its t-12 and forward P/E ratio of 45.21 and 35.81, while a bit higher than peers, is justified. “We believe Street is underestimating sales/earnings growth in next three years as Nvidia continues to transform itself from a PC to a diversified gaming, data center and auto graphics company,” the analysts wrote in their note to clients Wednesday, adding they model Nvidia’s “sales to grow 16% [Compound annual growth rate] CAGR (4x…

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