Morgan Stanley reinstates Nvidia as top pick, keeps overweight rating and $300 target

The bank still expects Nvidia to beat the market, but the chipmaker no longer holds the top slot on its semiconductor list Morgan Stanley has removed Nvidia as its top pick. The bank is still keeping its overweight rating on the stock. The change is notable because of how recently the bank championed the chipmaker. Only weeks ago, Nvidia sat at the top of Morgan Stanley’s semiconductor rankings. Wall Street ratings come in layers. An overweight rating means analysts expect a stock to outperform its peers or benchmark over time. A top pick is a smaller, more exclusive club. It marks the single name analysts would choose first if forced to pick one. So Morgan Stanley is still bullish on Nvidia.

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