Nvidia receives rare downgrade by PhillipCapital as it awaits Blackwell ramp

Nvidia (NASDAQ:NVDA) was downgraded to Accumulate from Buy by PhillipCapital due to recent price movements as it awaits the Blackwell ramp.

However, PhillipCapital slightly increased its price target on Nvidia to $160 from $155. Nvidia shares slid about 2.5% during Friday trading. They are virtually flat