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

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

Oct 20, 2016 at 3:18 PM
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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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