Nvidia Stock: Analyst Lowers Price Target Amid Market Concerns
Nvidia Stock: A Shifting Landscape
Nvidia (NASDAQ: NVDA) has been on an incredible bull run over the past two years, emerging as the leading GPU provider in the AI sector. However, sustaining this momentum has proven challenging. With the recent earnings call on November 20, aggressive profit-taking ensued, propelling the stock to a new all-time high of $153.06 in early January before a notable pullback.
HSBC Revises Nvidia Stock Price Target
HSBC has revised its price target for Nvidia stock from $190 to $185, indicating a significant 38.53% upside potential. According to Frank Lee, HSBC’s tech analyst, this adjustment accounts for anticipated weaker momentum in Nvidia’s fiscal first half, which necessitates stronger performance in the latter half.
- Price target lowered to $185
- Earnings per share estimate reduced by 6% to $5.74
- Data center revenue prediction adjusted from $253 billion to $236 billion
While Bank of America maintains its target at $190, they caution that headwinds may persist until Nvidia's next earnings call on February 26.
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