NVIDIA was downgraded unusually, analysts say valuation is worrying, stock price fell more than 2% at one point
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Almost all analysts on Wall Street are optimistic about NVIDIA, but Pierre Ferragu, an analyst at New Street Research, has issued a warning on NVIDIA's stock. He believes that unless in a bull market, NVIDIA's future upside potential is limited, hence he downgraded the rating to neutral. In addition, he set a target price of $135 for NVIDIA, which is 5% higher than Wednesday's closing price. He mentioned that NVIDIA's current P/E ratio may be too high, but the fundamental quality of NVIDIA has not changed, and he only recommends buying when the stock price continues to be low
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