Nvidia Stock Surges Amid BMO's Optimistic Earnings Forecast
Nvidia's stock price climbed by 2% on Tuesday as BMO Capital maintained its Outperform rating and set a $340 price target ahead of the company's fiscal second-quarter earnings report.
The analyst expects revenue for the quarter to reach between $94 billion and $95 billion, exceeding current consensus estimates by $2 billion to $3 billion. This is not the only optimistic forecast from BMO; they also anticipate fiscal third-quarter sales to surpass estimates by a similar amount due to continued demand in the data-center market.
The analyst sees another growth leg emerging as Nvidia ramps up its Vera Rubin platform in the second half of 2026, with projected sequential revenue gains of more than $10 billion. This is expected to come from the broader production of new systems that incorporate this technology.