Ahead of the Bell: Nvidia Rises
Monday August 28,
8:47 am ET
Friedman, Billings Upgrades Nvidia Based on Improving Demand for Products
NEW YORK (AP) -- A Friedman, Billings, Ramsey & Co. Inc. analyst upgraded the stock of Nvidia Corp. on Monday, saying a stabilizing personal computer market could boost demand for the the chip maker's products.
Analyst Chris Caso upgraded the company to "Outperform" from "Underperform," saying he expects the declining personal computer market to stabilize, which should help boost demand for Nvidia's products. In addition, the company could benefit from the launch of Microsoft Corp.'s new operating system, Vista, in early 2007.
Also, the Nvidia is launching a new high-end product on Sept. 6, wrote Caso.
The company has still not filed its complete second-quarter results due to an ongoing stock options investigation, noted Caso. The analyst predicts forecasts for Nvidia will improve after the company files its results.
Shares of Nvidia rose 33 cents to $26.81 in premarket trading on the INET exchange Monday.
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