Shares of Nvidia (NASDAQ: NVDA) surged higher Monday, jumping as much as 6.8%. As of 2:30 p.m. ET, the stock was still up 6.1%.

The catalyst that sent the semiconductor specialist higher was bullish commentary by a Wall Street investment bank.

To kick off the week, Morgan Stanley (NYSE: MS) analysts named Nvidia the bank's "top pick" in a note to clients, ahead of the company's fiscal 2024 second-quarter financial release, scheduled for Aug. 23. After reaching a new all-time high, the stock had fallen roughly 14% as of Friday's market close. The analysts call the recent decline "a good entry point," according to The Fly. 

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Source Fool.com