Baird NVIDIA · NVDA

Baird Downgrades NVIDIA to Neutral, $200 Price Target

Analyst: Tristan Gerra 1 min read Reproduced verbatim
Rating
Neutral
from Outperform
Target
$200
from $500 (−60%)
Upside
+14%
NVDA at $175 today

The lowest of 28 current targets on NVIDIA, 37% below the $315 median. Baird has reached 91% of its year-old targets (32 scored).

Baird and NVIDIA logos

What the analyst said

Baird analyst Tristan Gerra downgraded NVIDIA (NASDAQ: NVDA) from Outperform to Neutral with a price target of $200 (from $500).

“2027 data center forecasts are being delayed due to very recent lack of visibility, with supply issues mostly the reason for a potential slowdown but also due to potential demand softening. AI hyperscaler capex could slow to 40% growth or slightly less for 2027.

While H300 lead times remain stretched and demand well exceeds supply, timing risks exist on potential preemptive order cuts from/to risk channels with exposure estimated to 10-30%.

Finally, uncertainties related to CEO tenure into 2027 also support our trading range views on the stock near-term. Neutral-rated.”

Disclaimer
The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.

Where the price stands

NVDA trades at $175. The 28 analysts who set a target in the last 3 months range from $200 to $515, with a median of $315. This $200 target is 37% below the median, the lowest on the Street.

12-month window: day 0 of 365, closes on November 11, 2027.

Track record

This callOpen: a 12-month target, scored on November 11, 2027, a year after the note.

Firm track recordBaird: 91% of its 32 targets at least a year old were reached within 12 months (#1 of 26 firms); on NVIDIA, 3 of 3. Accuracy ranking →

Baird on NVIDIA

Baird price targets on NVIDIA

7 calls from November 20, 2025 to November 11, 2026. The target went from $275 to $200 (−27%). The rating moved from Buy to Hold.

Baird targetNVDA share price
  1. November 11, 2026 This noteDowngraded to Hold, target cut from $500 (−60%)Hold$200
  2. November 9, 2026Kept the $500 targetBuy$500
  3. September 1, 2026Kept the $500 targetBuy$500
  4. May 21, 2026Target raised from $300 (+67%)Buy$500
  5. February 26, 2026Target raised from $275 (+9%)Buy$300
  6. December 25, 2025Kept the $275 targetBuy$275
  7. November 20, 2025Earliest call shownBuy$275
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Other analysts on NVIDIA

Yorkville IvesBuy Kept rating and price targetReiterated Nov 11 $300maintained Bank of AmericaBuy Kept rating and price targetReiterated Nov 10 $350maintained Wells FargoBuy Cut price target −5%, kept ratingCut target Nov 10 $300from $315−5% MizuhoBuy Cut price target −21%, kept ratingCut target Nov 9 $250from $315−21% RBC CapitalBuy Kept rating and price targetReiterated Nov 9 $330maintained
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.