Baird Downgrades Nvidia to Neutral and Slashes Its Price Target to $200 From $500
U.S. brokerage Baird downgraded Nvidia on November 11, cutting its rating to Neutral from Buy and slashing its price target by 60 percent, to $200 from $500. Reuters reported that Baird cited growing risks from U.S. restrictions on chip sales to China and a potential slowdown in super intelligence (SI) spending that could weigh on demand for Nvidia's prized chips.
Nvidia shares closed at $168.9 on November 10 and are on track for their biggest weekly drop since March 2025, with uncertainty over the company's top leadership also weighing on the stock. Baird analyst Tristan Gerra said he was taking a more cautious stance until uncertainties clear around likely U.S. government action, congressional hearings and investigations, the revenue impact of near-term risk-channel adjustments, and the chief executive's tenure. Baird also delayed publishing its 2027 data-center forecasts, citing reduced visibility and supply constraints, and expects AI-era spending by large cloud companies to grow by about 40 percent or less in 2027.
Other Wall Street firms also turned more cautious the same day: Morgan Stanley removed Nvidia from its semiconductor Top Pick list while maintaining an Overweight rating and a $300 price target. Nvidia is scheduled to report third-quarter results after markets close on November 17. In midday trading on Wednesday, Nvidia shares rose about 5 percent as investors initially shrugged off the downgrade.
The Jensen Huang matter itself is still developing: Nvidia's board has launched an independent investigation, and Huang has acknowledged infidelity to his wife in a message to employees. Since GSM began following this matter, our newsroom has written to NVIDIA's media department to inquire about it and had not received a formal response as of publication. GSM will continue to follow official developments.
Related: Jensen Huang Admits Infidelity to Staff as Nvidia Board Launches Independent Investigation
Viral 'Open Letters' Attributed to Jensen Huang's Wife and Daughter Are Fabricated
Source: Reuters
Published by GSM · USA (original Chinese edition)
Photo: 图：英伟达创办人兼首席执行官黄仁勋（Jensen Huang）2026年4月30日在 Stanford 的肖像照（本图已预裁为 16:9）。Anderseidesvik 摄，CC BY-SA 4.0，经 Wikimedia Commons。 / Photo: NVIDIA founder and CEO Jensen Huang at Stanford on April 30, 2026 (pre-cropped to 16:9). Photo by Anderseidesvik, CC BY-SA 4.0, via Wikimedia Commons.
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- 2026-11-11Baird Downgrades Nvidia to Neutral and Slashes Its Price Target to $200 From $500This story
