NVIDIA Corporation’s (NVDA) Price Target And Estimates Raised

Analyst Glen Yeung at Citigroup has released an update on NVIDIA Corporation (NASDAQ: NVDA).

The company launched its much awaited Fermi-based GPU’s this weekend, the GTX 480 and the GTX 470, ending speculation about the timing of Fermi.

Citigroup’s checks suggest that NVIDIA is tracking above the consensus in the current quarter. It has raised its first-quarter and second quarter revenue estimate to $1.01 billion for each quarter. The price target for the company has been raised from $23 to $24.

Citigroup has maintained its Buy rating for NVIDIA Corporation.