Nvidia Tops BMO's Chip Picks with $340 Price Target

Nvidia has emerged as the top pick among semiconductor stocks by BMO, according to a recent research report. The bank set an Outperform rating and a $340 price target for Nvidia's stock.

The call comes as Nvidia prepares to enter the next phase of its AI infrastructure roadmap. BMO expects the Vera Rubin NVL72 platform to enter production during the second half of the year, which could add another driver to the company's data-center business.

BMO estimates that Nvidia is valued at roughly 18 times forward earnings, with revenue growth forecasted to be 84% in fiscal 2027 and 50% in fiscal 2028. This suggests that BMO sees room for further gains as Nvidia advances its next-generation AI platform.