Citi and Wells Fargo Lower Nvidia Price Targets Ahead of Q3 Earnings
Nvidia (NVDA) shares experienced a 2.1% decline in premarket trading following price target reductions from both Citi and Wells Fargo. The adjustments come as investors prepare for the company's upcoming quarterly earnings report, which is scheduled for release on November 17. While analysts anticipate a modest beat on earnings per share (EPS), the downward revisions suggest cautious sentiment regarding valuation or growth expectations heading into the reporting period. The market remains highly focused on Nvidia's performance as a bellwether for the semiconductor and AI sectors.
Topics: earnings anticipation premarket trading price target cut
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