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Market Incident

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AI compiled from Infoway · 5 analyzed stories

Wells Fargo maintains NVIDIA at Overweight, lowers price target to $300 from $315

Wells Fargo kept its Overweight rating on NVIDIA but lowered its price target to $300 from $315, a 4.8% decrease. The report said the new target implied 67.9% upside from NVIDIA’s November 9 closing price of $178.67.

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What happened

Ahead of NVIDIA’s earnings report scheduled for Nov. 17, Citigroup cut its price target to $285 from $315 and Wells Fargo cut its target to $300 from $315. Both kept their positive ratings. NVIDIA shares fell 2.1% in premarket trading.

Global impact / market context

Lower targets show the banks reduced their expectations for NVIDIA’s share price, even as they kept positive ratings. Investors may focus on the upcoming results and on whether sales, margins, supply, and demand support confidence in the company.

What to watch

  1. Check the Nov. 17 earnings report for sales and gross margins, which analysts highlighted as key measures.
  2. Check what the company and analysts say about supply capacity, because limited supply could affect its ability to meet demand.
  3. Check comments about demand beyond 2028 and the CEO investigation, both raised as issues to watch.

Affected assets

  • NVDA

Evidence