Nvidia Corp. (NASDAQ:NVDA) has received a rare downgrade from New Street Research, with the analyst citing concerns about the stock’s overvaluation. What Happened: New Street Research analyst Pierre Ferragu downgraded Nvidia’s stock from buy to neutral, citing that the stock is “getting fully valued” after a remarkable 161% surge this year to date. The stock had previously seen a gain of almost 240% in 2023. Ferragu expressed doubt about any additional upside, stating that it would only materialize in a bull case, which is not yet certain. He also warned of a potential risk of derating if the …
