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Add as a preferred source on GoogleThe two banks lowered their targets ahead of Nvidia’s Nov. 17 earnings report. Shares were 2.1% lower in premarket trading on Nov. 10.
Before its Nov. 17 earnings release, Nvidia was 2.1% lower in premarket trading on Nov. 10. Citi and Wells Fargo had each cut their price target for the stock.
EconoTimes previously covered a separate increase in a price target for Nvidia on Oct. 16.
Nvidia is scheduled to report earnings Nov. 17.
The bank's previous benchmark was $315, making the revised figure about 9.5% lower.
Third-quarter net sales fell 1.6% year over year, while underlying diluted earnings per share declined 12.6%.
The company also aims for about 10% annual adjusted diluted EPS growth and an adjusted operating margin of at least 36%.
