NVIDIA Stock Could Soar Despite Wall Street Downgrades
NVIDIA (NASDAQ:) analysts started reducing their ratings and price targets in late March, which presents a headwind for the stock price action.
MarketBeat tracks five consecutive negative revisions beginning March 20, including three price target reductions and two downgrades. The downgrades are from Buy or Strong Buy to Hold, and the net result could be a cap on the market.
Regardless of where the consensus target forecasts the stock price, a trend in negative revisions saps investor appetite. This could lead to an even deeper market correction than NVIDIA has already seen. The risk now is that negative revisions will become the trend.
However, not all analysts are cutting their targets. The five-revision trend that began in late March…
