Bank of America Drops Nvidia From Top-Conviction List Amid Widening Governance Scrutiny

Bank of America has removed Nvidia from its elite US 1 List while maintaining a Buy rating and a $350 price target. The move coincides with heightened governance scrutiny and a board probe concerning CEO Jensen Huang, with Nvidia shares falling over 4% into bear market territory, roughly 26% below their October peak. Earlier, Wall Street firms largely defended the stock: Bernstein and RBC Capital reiterated targets of $400 and $330, while Goldman Sachs set $300. However, Mizuho trimmed its target to $250 from $315, and Aletheia Capital downgraded the stock to Hold.