Citi and Wells Fargo cut Nvidia price targets as probe-driven slide deepens
What happened
On Tuesday, November 10, 2026, Citigroup lowered its price target on Nvidia to $285 from $315 while maintaining a Buy rating, and Wells Fargo lowered its target to $300 from $315 while maintaining an Overweight rating, according to MarketBeat's analyst-ratings log. Both cuts were issued on the same day Nvidia shares fell 5.5% to close at $168.89, the stock's second straight day of sharp declines. Neither bank changed its rating — both remain positive — so the moves are valuation resets rather than thesis breaks, but two cuts from major banks on a single day add to the negative tape around the stock.
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Start your free 14-day trialWho’s affected
- Nvidia (NVDA) — direct; two major banks trimmed targets on the same day the stock fell 5.5%
- AI hardware / chip peers (e.g. Dell, Broadcom) — secondary read-through; analyst caution is spreading across the AI supply chain
- Nasdaq / semiconductor sector — Nvidia is the AI bellwether, so de-rating pressure feeds the broader chip tape
Sources