Nvidia (NVDA) Stock Gets “Top Pick” From BMO Capital With $340 Price Target
TLDR
- BMO Capital initiated Nvidia with an Outperform rating and a $340 price target
- Nvidia named “top pick” among a broad group of semiconductor stocks
- BMO cited Nvidia’s full-stack AI hardware and software dominance as key strengths
- Demand is strong with capacity sold out for the next 12-plus months
- Broadcom, AMD, Marvell, and Semtech also received Outperform ratings from BMO
Nvidia is trading at $216.18 as of Thursday, down 0.31% on the day, even as BMO Capital initiated coverage with an Outperform rating and a Street-bullish $340 price target.
BMO analyst Harsh Kumar named Nvidia the “top pick” among a wide group of semiconductor and quantum computing stocks the firm kicked off coverage on Thursday.
Kumar pointed to Nvidia’s full-stack combination of hardware and software as the core reason for the top billing. The firm sees a “defensible end-to-end HW/SW moat” that it believes the market is currently underpricing.
The stock trades at 18x forward P/E, which BMO views as a discount given its model projecting revenue growth of 84% in FY27 and 50% in FY28.
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