Baird cut its price target on Fair Isaac Corporation (FICO) to $1,070 from $1,549. This reduction, announced on October 2, 2026, represents a cut of over 30%. Baird maintained its "outperform" rating on FICO stock, indicating potential upside from current trading levels.
This revision follows a dramatic drop in FICO's stock price. The Federal Housing Finance Agency (FHFA) announced Fannie Mae and Freddie Mac would begin using rival VantageScore for mortgage underwriting. This decision ends FICO's long-standing dominance in the U.S. mortgage market. It prompted numerous analysts to reassess FICO's valuation. Baird's new price target still implied a potential upside of over 60% from the stock's price at the time of the report.