BMO names Nvidia top semiconductor pick with Outperform rating and $340 target
BMO initiated coverage of Nvidia as its top semiconductor pick, assigning an Outperform rating and a $340 price target. The firm argues Nvidia’s valuation still understates the durability of its full systems hardware-software moat after a surge in AI demand. It points to Nvidia’s end-to-end rack-scale approach and flags Aug. 26 earnings as a key near-term catalyst.