Nvidia Corporation  shares command a premium valuation, and sell-side’s theses have all along justified its valuation due to the chipmaker’s strong growth profile and optionality.
An analyst at KeyBanc Capital Markets, however, deemed it fit to downwardly revise the price target, and here’s why:
Semiconductor Analyst
Analyst John Vinh maintained an Overweight rating on Nvidia shares and reduced the price target from $350 to $310.
Vinh also took down his price target for Qualcomm, Inc. from $230 to $200, while maintaining the rating at Overweight.
The analyst kept his Overweight rating and $165 price target on Advanced Micro Devices, Inc. shares. Intel Corporation’s rating was maintained at Sector Weight.
…