JPMorgan (JPM) Raises Nvidia on (NVDA) Reduced Risk

JP Morgan (NYSE:JPM) boosted its rating on Nvidia (NASDAQ:NVDA), citing the plunge in the share price of the company has completely discounted the risks associated with that tablets besides Apple’s (NASDAQ:AAPL) iPad 2 may not sell, which would hurt sales of Nvidia’s “Tegra” processor.

Analyst Harlan Sur said, “After suffering through delays in the introduction of its new Fermi-based GPUs in early 2010, we believe NVDA has executed its new products strategy well throughout the rest of the year. The company successfully launched 8-9 new products in 2H10, including the 2nd-generation Tegra 2 and high-end GeForce GTX580, GTX570, and GTX560TI. NVDA has regained share to stand at -22.7% as of 4Q10.”

Sur also said he had overstated his fear in reference to the company’s execution, as it has “significantly improved its technology and product rollouts in the second half of last year.”

JPMorgan raised their rating on Nivdia from "Underweight" to "Overweight." Nvidia was trading at $20.64, up $0.17, or 0.83 percent, as of 11:43 AM EST.