Nvidia price target raised to $650 from $600 at BMO Capital

BMO Capital raised the firm’s price target on Nvidia to $650 from $600 and keeps an Outperform rating on the shares. The analyst cites the company’s continued trend of beat and raise results thanks to the ongoing spend towards generative AI across verticals and industries. Nvidia is also opening up several complementary opportunities, such as what it sees as a multi-billion dollar opportunity for its Grace Hopper line-up, and its networking business, which has grown about 10-times since the acquisition, the firm tells investors in a research note.