Market Intelligence

Nvidia Pulling Back Sharply After RBC Capital Lowers Price Target

( - Shares of Nvidia Corp. ( NVDA ) have shown a significant move to the downside during trading on Thursday following the jump seen in the previous session. After surging up by 4.7 percent on Wednesday, Nvidia is currently down by 4.8 percent.

The pullback by Nvidia comes after RBC Capital lowered its price target on the graphics chip maker's stock to $200 per share from $230 per share.

RBC Capital maintained its Outperform rating on Nvidia's stock but noted average selling prices have been coming down in secondary markets.

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