Nvidia downgraded by Baird, dropped from Morgan Stanley’s Top Pick list as Jensen Huang scandal deepens

Baird cut its rating to neutral and slashed its price target as questions about the CEO's future collide with doubts over 2027 AI spending Nvidia spent the past few years as Wall Street’s favorite answer to almost every question about artificial intelligence. On Wednesday, two major firms decided the answer now comes with an asterisk. Robert W. Baird downgraded the chipmaker to neutral, and Morgan Stanley pulled the stock from its Top Pick list. The moves land as investors grow uneasy about CEO Jensen Huang’s future at the company sitting at the center of the AI boom. Baird moved Nvidia from Outperform to Neutral on November 11, 2026. It also cut its price target from $500 to $200, a 60% reduction. The firm pointed to three problems.

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