Nvidia Faces Price Target Cuts to $160 by BofA, $150 by Piper Sandler and Raymond James After $5.5B H20 Export Charge

Nvidia Corporation ($NVDA) is facing a series of price target reductions from multiple financial institutions following the announcement of new U.S. export license requirements for its H20 AI chips to China. Bank of America (BofA) has lowered its price target from $200 to $160 while maintaining a Buy rating, citing a projected $5.5 billion charge in fiscal Q1, which is expected to impact GAAP earnings per share (EPS) by 20%. Piper Sandler has also reduced its price target for Nvidia from $175 to $150, while maintaining an Overweight rating. Raymond James cut its target from $170 to $150, and Evercore ISI, despite recognizing the potential for a bounce back, has set a price target of $190. Other firms such as Citi and TD Cowen have also adjusted their targets, with Citi setting a target of $150 and warning that Nvidia may struggle to exceed guidance due to the new restrictions. Overall, the consensus among analysts remains cautious but maintains a positive outlook on Nvidia's long-term performance.