Cowen and Company gets bullish on NVIDIA (NVDA), Marvell (MRVL) and Broadcom (BRCM).
NVIDIA (NVDA) initiated with an OUTPERFORM:
- Cowen believes in the company’s strategy and thinks NVDA’s shares are discounted for much more risk than the fundamentals would imply.
- Despite valid near-term concerns, NVDA should be soon attacking the mainstream computing market “from all sides”, “clearing a path for significant EPS growth and stock appreciation over the next few years.”
Marvell (MRVL) initiated with an OUTPERFORM:
- Cowen thinks MRVL’s strong product offerings will power the stock and that it’s “well positioned to take advantage of several important trends in the mobile computing space.”
- Cowen also sees an expansion for MRVL of its customer base in baseband beyond Research In Motion (RIMM), a better attempt at being a player in WiFi, and processor/baseband offerings for the MID/UMPC market.
Broadcom (BRCM) initiated with an OUTPERFORM:
- Despite macroeconomic weakness, Cowen sees BRCM’s core enterprise and broadband businesses staying strong.
- “With a big R&D spend already baked in and management focused on cutting science projects and generating more rapid return on investment”, Cowen expects BRCM to post strong EPS numbers over the next few years.
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