KeyBanc cuts NVDA stock rating, lowers AMD stock price target By Investing.com
On Tuesday, KeyBanc Capital Markets revised its outlook on shares of several semiconductor companies based on its quarterly supply chain findings. The review led to a more negative stance on NVIDIA Corporation (NASDAQ:) and Advanced Micro Devices, Inc. (NASDAQ:), with both companies’ estimates and price targets being adjusted downward.
According to InvestingPro data, NVIDIA maintains a perfect Piotroski Score of 9, indicating exceptional financial strength, with impressive revenue growth of 152% in the last twelve months.
For NVIDIA, KeyBanc pointed to several factors contributing to the negative outlook. The demand for NVIDIA’s Hopper GPUs is expected to decline double digits quarter-over-quarter in the fourth quarter of 2024, contrary…
