Citigroup cuts Nvidia price target to $225 after Huang's exit
fool.com —
Nvidia's stock has fallen 14% since CEO Jensen Huang's departure was announced on Nov. 9, prompting Citigroup to cut its price target from $285 to $225, amid reports of extramarital affairs and possible Chinese spy targeting. The scandal has erased all of Nvidia's gains this year, with multiple analysts revising targets, including Bernstein halving its $400 target and Oppenheimer withdrawing its price target entirely due to no clear successor and potential talent exodus. Despite the leadership crisis, Nvidia remains the dominant AI chipmaker with sales more than doubling in the latest quarter, and interim CEO Colette Kress projects 70% sales growth next year, with clients unlikely to cancel orders.