- Truist analyst William Stein lowered the price target on NVIDIA Corp NVDA to $350 from $389 but kept a Buy rating on the shares. The price target implies an upside of 26.8%.
- The company's CES presentation, management meeting, and proprietary takeaways suggest upside potential to estimates.
- Related Content: Nvidia Extends TuSimple Partnership For Autonomous Trucking; Showcases Omniverse Plans
- Nvidia DRIVE Orin Chip To Power Baidu's JiDU Robot EV, Same As Nio
- However, his reduced price target also reflects the recent decline in earnings multiples investors are paying for "rapid-growth equities," the analyst tells investors in a research note.
- Price Action: NVDA shares traded lower by 0.04% at $275.94 in the premarket session on the last check Thursday.
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