Morgan Stanley Reinstates Nvidia as Top Pick With $300 Price Target

Nvidia advanced 1.5% in premarket trading after Morgan Stanley reinstated the company as its top semiconductor pick, maintaining an Overweight rating and a $300 price target. The bank pointed to an attractive valuation, with shares trading at approximately 15 times fiscal 2028 estimated earnings per share. Morgan Stanley highlighted Nvidia's positioning to navigate data center power constraints, supported by 80 global cloud partners and customer diversification outside large hyperscalers. Nvidia also projects its CPU revenue to double from $20 billion in 2026 to $40 billion in 2027 while returning 50% of cash to shareholders.