BMO Capital Reiterates Outperform on NVIDIA, $340 Price Target
BMO Capital analyst Harsh V Kumar reiterated an Outperform rating and $340 price target on NVIDIA (NASDAQ: NVDA).
“We hosted a post-F2Q earnings call with NVDA investor relations team last week. NVDA reiterated 70% growth in FY28 as AI demand continues to exceed supply.
Supply constraints are mostly centered on memory and foundry wafers, but also factors in land/power/shell.
GPU fungibility coupled with CUDA support open/closed models and extends useful life as seen from A100s contract going into 2029 (Ampere launched in 2020).
We see NVDA’s full stack end-to-end platform as the industry’s best-enabling AI training/inference. We maintain Outperform rating and $340 target price.”
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