Bank of America reaffirmed a Buy rating on Nvidia with a $350 price target, calling its 18x forward P/E a seven-year low and a compelling entry point.

Is NVDA stock a buy? BofA sees 78% upside and a $350 price target, calling Nvidia's massive moat 'unappreciated.' Read the full analysis.

Nvidia stock is cheap compared to peers for an analyst using forward price-to-earnings estimates.