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As Jensen Huang leaves Nvidia, Citigroup Lowers Its Price Target on the Stock From $285 to $225. Does That Make Sense?

As Jensen Huang leaves Nvidia, Citigroup Lowers Its Price Target on the Stock From $285 to $225. Does That Make Sense?

The market is still digesting the shocking news that Jensen Huang is out as CEO of Nvidia (NVDA -4.88%) after reports came out that he had two extramarital affairs and was possibly a target of Chinese spies.

Nvidia stock has fallen 14% since the news broke on Nov. 9, erasing all of the company’s gains this year and more.

Wall Street is already reevaluating its price targets, and Citigroup (C +0.31%) analysts Atif Malik and Papa Sylla slashed their 12- to 18-month price target from $285 to $225, according to The Wall Street Journal.

Does this make any sense?

Former Nvidia CEO Jensen Huang giving a speech.

Image source: Nvidia.

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