Bernstein Just Gave Up on Nvidia, Cutting Its Target in Half to $200

Bernstein Just Gave Up on Nvidia, Cutting Its Target in Half to $200

Two brokers landed on the same price target within hours, a board shake-up looms, and the stock sits below its 52-week low. Does a 14x forward multiple mean Wall Street is overreacting, or seeing something earnings haven't shown yet?

Bernstein downgrades Nvidia, slashes PT by 50% to $200

Stacy Rasgon, Managing Director and Senior Analyst covering U.S. Semiconductors and Semiconductor Capital Equipment at Bernstein Research, explains the rationale behind his downgrade of Nvidia and reduction in the stock's price target. He adds that while replacing CEO Jensen Huang would be "very, very difficult," it is "not intuitively obvious" who could succeed him.

Bernstein Cuts Nvidia Rating to Market Perform, Halves Target to $200

The firm pointed to management uncertainty and potential business risks while maintaining a strong outlook for Nvidia's data-center growth.