Goldman cuts Nvidia target before earnings

|About: NVIDIA Corporation (NVDA)|By:, SA News Editor

Ahead of Thursday's earnings report, Goldman Sachs maintains a Buy rating on Nvidia (NASDAQ:NVDA) and lowers the target from $184 to $162.

The firm cites "disappointing sell-through of high-end gaming and the ongoing ‘pause’ in server purchases by hyperscale customers."

Goldman's bull/bear scenarios put upside potential at 76% and downside at -45%.

Last month, Nvidia cut its Q4 revenue guidance from within 2% of $2.7B to within 2% of $2.2B compared to the $2.7B consensus.

Analysts are now expecting $2.27B in revenue for the quarter and $0.65 EPS.

Nvidia shares are up 1% premarket to $147.96.

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