Nvidia: Jefferies stays long, cuts target


(CercleFinance.com) – Jefferies reaffirms its ‘buy’ recommendation on Nvidia despite a price target drastically lowered from 370 to 280 dollars, the day after the publication by the supplier of programmable graphics processors of its quarterly results.

‘We’re buyers of Nvidia after its third target cut in three months, judging the 40% underperformance between its peak and trough and the 35% compression in P/E versus SPX price in the bad news ‘, says the broker.

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