Nvidia Shares Drop as Baird Cuts Price Target by 38 Percent, Downgrades to Neutral

Nvidia logo on a screen during a keynote address by Nvidia Founder, President and CEO Jen-Hsun Huang at CES 2017 at The Venetian Las Vegas on Jan. 4, 2017. Ethan Miller/Getty Images

Baird analyst Tristan Gerra downgraded NVIDIA Corp to Neutral from Outperform with a price target of $225, down from $360.

The price target implied a downside of 2.7 percent.