Analyst Update: NVIDIA Corporation, Mobileye NV, and SCYNEXIS Inc

Analysts are weighing in on NVIDIA Corporation (NVDA), Mobileye NV (MBLY), and SCYNEXIS Inc (SCYX)

by Kirra Fedyszyn

Published on Oct 20, 2016 at 3:18 PM

Analysts are weighing in on chipmaker NVIDIA Corporation (NASDAQ:NVDA), self-driving tech expert Mobileye NV (NYSE:MBLY), and biotech issue SCYNEXIS Inc (NASDAQ:SCYX). Here's a quick roundup of today's brokerage notes on NVDA, MBLY, and SCYX.

  • NVDA is 2.1% higher at $67.84 after Mizuho Securities reiterated its "buy" rating on the stock, noting that NVIDIA Corporation stands to profit from its contract with Tesla Motors Inc (NASDAQ:TSLA), after the electric carmaker last night announced all of its vehicles will now be produced with complete "self-driving" technology -- with NVIDIA earning the right to be a pivotal chip provider (subscription required). This upbeat outlook is shared by the majority of analysts, with 14 out of 24 maintaining a "buy" or better opinion. And that's no surprise, considering NVDA has more than doubled on the charts year-to-date, thanks in part to support from the 50-day moving average since February.
  • An analyst at Barclays is taking a different view of Tesla's latest announcement, calling it "overly hyped" and throwing his chips in with MBLY -- with which Tesla recently split. Specifically, the firm suggested a pair trade, banking on TSLA falling and expecting Mobileye NV to outperform. It seems reasonable that MBLY could be on the verge of an upturn, as the stock's 14-day Relative Strength Index (RSI) is sitting in oversold territory, at 28. But traders aren't on board yet -- nearly 17% of MBLY's available float is wrapped up in short interest, representing almost two weeks' of trading, at the stock's typical daily pace. At last check, MBLY was up 2.7% at $38.31.

  • H.C. Wainwright has initiated coverage on SCYX with a "buy" rating and $14 price target -- representing a 270% premium over current levels, and a region the shares haven't seen since January 2015. What's more, the brokerage firm described the company as a "dapper fungus zapper." The stock is up 3.8% at $3.78 as a result, but still sits on a 42% year-over-year loss. In fact, the shares skidded as far south as $1.74 just a few months ago. On the plus side, it looks like SCYNEXIS Inc has found an ally in the form of its 40-day moving average. And the brokerage bunch as a whole has high expectations for the stock, since every analyst tracking SCYX recommends buying the shares. 
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