Nvidias rating was rarely downgraded, and analysts warned of future upside
Odaily2024/07/06 04:00
By:Odaily
Odaily News The amazing rise of Nvidia (NVDA.O) stock since the beginning of last year has finally come to an end, at least in the eyes of New Street Research analyst Pierre Ferragu. Ferragu downgraded Nvidias rating from buy to neutral. He believes that after rising 240% last year and 157% this year, Nvidias stock price has fully reflected the valuation. Nvidias increase this year ranks second among SP 500 components, second only to another AI concept stock Super Micro Computer Inc. Nvidias
market value has increased by $1.9 trillion this year, and it once won the title of the worlds most valuable company. New Street set Nvidias target price at $135 in one year. (Jinshi)
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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