Key Highlights

  • Bernstein cut its Nvidia price target to USD 200 from USD 400 and moved the rating to Market Perform, the sharpest reset among the research firms cited so far, according to reported notes after the CEO resignation announcement.
  • Citi trimmed its target to USD 225 from USD 285, while KeyBanc downgraded the stock from Overweight to Sector Weight, citing higher strategic, organizational and execution risk if Jensen Huang is no longer leading the company.
  • One strategist valued the shares at USD 300 with Huang and USD 225 without him, a USD 75 gap by simple arithmetic, while pre-market market data showed USD 153.00.
  • A data provider showed a consensus target of USD 293.31 and a Strong Buy rating still in place, about 92% above the pre-market price by simple arithmetic, so published targets may lag the move.

KeyBanc and Bernstein Reset Their Views After the Huang Exit

Nvidia (NASDAQ:NVDA) announced before the open on Thursday, November 12, 2026, that co-founder Jensen Huang had resigned as president, chief executive officer and director, effective immediately. Research firms moved quickly. KeyBanc downgraded the stock to Sector Weight from Overweight, saying his possible removal materially raised strategic, organizational and execution risks. Bernstein, as reported, downgraded to Market Perform and cut its target to USD 200 from USD 400. Market data in the supplied widget showed shares trading down about 11.93% at USD 153.00 in pre-market, against a November 11 close of USD 173.73. Other reports put the move between about 9% and 12%, so the figure differs by source. The regular session has not opened.

Citi and One Other Firm Cut Targets Across a Wide Range

Citi trimmed its target to USD 225 from USD 285, as reported overnight. One firm, not confirmed, reportedly cut its target to USD 185 from USD 315, about 6% above the last close by simple arithmetic. Among the cuts cited here, targets therefore span USD 185 to USD 225, with Bernstein at USD 200. These are data points from each firm's own model, not forecasts or advice from this publication. They also follow a 4.27% fall to USD 178.67 on Monday, November 9, after the board opened an independent investigation into reports about Huang's contacts. Nvidia has not confirmed any compromise, and the board said it had no reason to believe US national security or company secrets were compromised.

Why a USD 300 and USD 225 Split Frames the Debate

The strategist's USD 300 value with Huang and USD 225 without him tries to price a founder directly. A strategist at Siebert Financial argued investors may confuse the value of Huang with the value of the business, pointing to the CUDA software ecosystem, customer relationships and AI infrastructure Demand as Assets that outlast a Leadership change. The consensus target of USD 293.31 and Strong Buy rating come from one data provider and may lag the new notes. Chief financial officer Colette Kress is interim CEO, Harvey C. Jones is the board's first chair, and the board has started a search with no timetable given.

Where Things Stand

The targets say firms are repricing leadership risk rather than agreeing on one number. Nvidia (NASDAQ:NVDA) now carries cuts from USD 185 to USD 225, a downgrade at KeyBanc and a consensus that still sits far higher. The next marker is third-quarter fiscal 2027 results on November 17, 2026, the first report under interim leadership. Investors are watching for further target revisions, any word on a permanent successor, and the investigation.