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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 691.72

-0.1%

Jan 16 4:00 PM EST

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To: Johnny Canuck who wrote (59350)	5/24/2024 10:57:17 AM
From: Johnny Canuck	Read Replies (1) of 69835

Nvidia cut to hold from buy at German bank: Given the stock’s breathtaking run, its noteworthy when an analyst has anything but pie-eyed optimism for Nvidia’s share price outlook, so it stood out this morning when analyst Ingo Wermann at DZ Bank AG downgraded his recommendation on the company from a buy to a hold. That’s still well off a “sell,” and to be clear, Wermann is not expecting the company’s stock price to change direction in any material way. His target price of US$1,025 a share is only a hair below the $1,037 the shares are changing hands at on Friday morning. But given the consensus expectations for the AI chipmaker’s revenues moving forward, it stands out for going against the grain. According to Bloomberg, Nvidia has 62 buy recommendations, seven holds and no sells.

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