Evercore cuts Nvidia price target to $186... downgrades rating to 'In Line'

Evercore ISI cut its Nvidia ($NVDA) price target to $186 from $465 and downgraded the stock to In-Line from Outperform on the same day CEO Jensen Huang announced his resignation. The revision implies a roughly 60% reduction in the target, though the article notes conflicting prior figures, with a republished Evercore memo listing the previous target at $352 and an August raise from $413 to $465. The downgrade matters because it removes a longstanding bullish rating on the market's most influential AI chip stock at a moment of leadership uncertainty. Investors will watch Nvidia's share price reaction and whether other brokerages follow Evercore in trimming targets or ratings.