Citigroup’s Top Picks!

Citigroup (NYSE: C) is out with an investor note this morning giving customers their highest conviction ideas. Their analysts upgraded estimates for Amphenol Corp (NYSE: APH) and lowered estimates for Nvidia (NASDAQ: NVDA).

Nvidia reported earnings yesterday that were mixed. Their Q1 profit rose as their sales rose 51%, but their Q2 outlook disappointed significantly. Citigroup analysts said that they were disappointed in the guidance and that their proprietary checks indicate that NVDA could come in at flat sales, but they are downgrading estimates in the name regardless and removing it from its Top Picks list. The price Target for the stock is $20. Nvidia is currently trading at $13.53, down 7.65% on the session.

Amphenol Corp. is a designer, manufacturer and marketer of electrical, electronic and fiber optic connectors, interconnect systems, and coaxial and high-speed specialty cable. Citigroup said that they are adding the stock to their Top Picks Live list, giving it their highest conviction buy rating. They raised estimates on the name, as well as the price target, which is now at $58. Amphenol corp. is currently trading $43.99, down 2.29% on the session.

Citi said that the recent pullback represents a great opportunity to get long the name ahead of its Q2 earnings in July.