Technologies

Bank of America says Nvidia and these other stocks are on sale

Bank of America named several stocks that it said are undervalued.

Bank of America recently named several companies that it said are intriguing buying opportunities. The Wall Street investment bank said that investors should buy any weakness in stocks including Nvidia. Other stocks rated buy at Bank of America and screened by CNBC Pro include: Thor Industries, Lyntris, Natural Grocers by Vitamin Cottage and Dutch Bros. Natural Grocers by Vitamin Cottage The organic and specialty grocer is “premium quality without the premium price,” analyst Vicky Liu said in initiating research coverage of the stock with a buy rating. Liu cited multiple catalysts that could send the stock higher, ranging from margin expansion to product affordability and rapid expansion. The bank out a $35 price target on the shares. “With the stock trading at 13x F27E EPS, we believe the market underestimates NGVC’s growth runway & margin potential,” she said. The stock is more than 5% over the past three months but ahead almost 19% in all of 2026. Dutch Bros Buy the weakness, analyst Sara Senatore said of the coffee chain. “We think concerns about near term same-store sales hurdles and medium- to longer term competition from other drive through native concepts have weighed disproportionately on valuation,” she said. The bank said the coffee category is one of the most rapidly growing segments in the restaurant industry. “The tailwind from an increasing share of consumers reporting past week espresso based beverage consumption (43% in 2025 vs 37% in 2020) should persist,” Senatore went on. Shares are down 43% in the past three months. Lyntris The connectivity systems defense company is best positioned for rising demand, according to analyst Ronald Epstein. Bank of America was a joint book-running manager for the Lyntris IPO on Aug. 18. “Sensing strong upside opportunities,” Epstein wrote in recently initiating research coverage with a buy rating. Bank of America sees “market tailwinds” across the company’s three main businesses: space, maritime and air defense. “As a merchant supplier of mission-critical componentry and software, LYNX is well aligned to ramping defense investment across the U.S. and international allies,” he went on to say. The stock is down 8% in the past month. Natural Grocers “Premium quality without the premium price. … .A value-oriented grocer with unit growth & margin upside … With the stock trading at 13x F27E EPS, we believe the market underestimates NGVC’s growth runway & margin potential.” Dutch Bros “We think concerns about near term same store sales hurdles and medium to longer term competition from other drive through native concepts have weighed disproportionately on valuation … The tailwind from an increasing share of consumers reporting past week espresso based beverage consumption (43% in 2025 vs 37% in 2020) should persist.” Lyntris “Sensing strong upside opportunities. … .As a merchant supplier of mission-critical componentry and software, LYNX is well aligned to ramping defense investment across the US and international allies … Favorable end market tailwinds across segments.” Thor Industries “We would characterize THO’s top-line results as best case given the tough industry backdrop while supplier costs continue to pressure gross margins … We rate THO at Buy given outlook for market share recapture, margin self-help initiatives, and a trough in recreational vehicle (RV) industry unit sales.” Nvidia “Our $350 PO is based on 22x CY27E PE ex cash, within NVDA’s historical 15x-56x forward year PE range, which we believe is justified by NVDA’s leading share in fast-growing AI compute/networking markets, offset by lumpiness in global AI projects, cyclical gaming market, and concerns around access to power.”

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Technologies

Verum Exchange Expands Mining Options: 12 Coins Now Available in the App

Verum Exchange has expanded its built-in mining capabilities, allowing users to mine 12 coins simultaneously. In addition to Verum Coin and Bitcoin, the list now includes ten more assets: VETRA, ZYBER, LUMEO, NEXO, TORIN, VELTO, BRIZO, TARIO, FLUXA, and DEYNO.

The mining process itself remains as simple as possible. After downloading and installing the Verum Exchange app on their device, users can open the mining section and tap the “Mine” button. Coin accrual takes place every 24 hours according to the applicable mining conditions. The process can then be repeated by activating mining again in the app.

The developers emphasize simplicity: launching the mining process does not require complicated setup. Users simply open the app and activate mining.

Verum Exchange continues to develop the app as a universal tool for working with currencies and digital assets, combining currency conversion, rate tracking, and mining features within a single interface.

Verum Exchange is available for download on iOS and Android.

Verum Exchange Web Version
Verum Exchange on the App Store
Verum Exchange on Google Play

Technologies

Treasury Secretary Scott Bessent hires Wall Street economist David Zervos

Zervos is joining the Treasury Department as counselor to Bessent, adding a prominent markets voice to the administration’s economic policy team.

Treasury Secretary Scott Bessent has hired veteran Wall Street economist David Zervos, the longtime chief market strategist at Jefferies, as a counselor in the Treasury Department. Zervos was a CNBC contributor.

Bessent announced the hire Monday in a statement obtained first by CNBC. Zervos will serve in a broad advisory capacity and is expected to begin immediately.

He has backed Bessent’s recent decision to increase buybacks of some long-term Treasury debt and has called for lower interest rates from the Federal Reserve.

Zervos in a brief interview called himself a “Wall Street geek” and said he was excited for his third stint in government. Bessent “has done an incredible job in this administration at guiding the economy through a lot of tumultuous periods,” Zervos said.

“Whether it’s trade, whether it’s war, he’s stepped up,” he said of Bessent.

Zervos will add intellectual firepower to the Treasury after a series of staff departures that have drawn some attention. Seven of the department’s 16 Senate-confirmed appointees had left the department as of mid-August, the Washington Sun reported. Bessent is on his third chief of staff since becoming Treasury secretary in January 2025.

Fellow Wall Street economist Joseph Lavorgna of SMBC Nikko served in a similar role as counselor to Bessent before leaving in March. The position doesn’t require Senate confirmation.

Bessent handles an especially broad portfolio for a Treasury secretary. He has been effectively President Donald Trump’s top negotiator on China and has been closely involved in policy debates about artificial intelligence, although Trump on Friday said Bessent would not add a role as the administration’s top AI advisor.

Zervos was considered by Trump to run the Federal Reserve, though the president ultimately chose Kevin Warsh for the job in January.

Zervos has worked at Jefferies, a New York-based investment bank, since 2010.

Zervos has a doctorate in economics and has worked twice for the Fed. The first time was at the start of his career, in the early 1990s, when he did technical economics and interest rate research. He left for the private sector and returned to the Fed in 2009 as a visiting advisor in the wake of the financial crisis. Warsh was a governor at the Fed then, though it isn’t clear if he and Zervos worked together directly at the time.

Zervos will serve as a special government employee, he said in an email to his clients. That status allows him to avoid some often-onerous divestiture requirements that come with other federal appointments, but it restricts how long he can hold the position. Zervos said he expects his term to end in April 2027.

Zervos said last year he believed interest rates should be “much lower.” Since Warsh took the job, Zervos has said he thinks Warsh can make room for lower interest rates by cutting the Fed’s balance sheet. Those reductions are one of Warsh’s top priorities.

The Fed raised interest rates earlier this month for the first time since 2023. That decision prompted frustration from some economists in the Trump administration, but Bessent has been more circumspect. He said Sunday in an appearance on Fox News that the Fed “should have an open mind” about how to manage the economy.

Bessent has intervened in Treasury markets as interest rates have continued to rise. The 10-year Treasury hit 5.2% on Friday, a level last seen in 2007, powered by a strong economy, competition for capital from the artificial intelligence build-out and concerns about inflation as the Iran war continues.

Zervos, in a CNBC appearance last month, backed Bessent’s decision to increase buybacks of some long-term Treasury debt, a move that may have eased pressure on some Treasury yields. Some on Wall Street had criticized the buybacks, but Zervos said he supported them.

“I don’t see how you could fight this when the firepower and the cards are all sitting in the Treasury Department,” Zervos said.

Technologies

Nvidia increases share buyback plan by $150 billion

Nvidia announced a $150 billion increase in its share buyback program, marking the largest repurchase authorization increase in history, and expects to complete the program by fiscal 2028, driven by strong growth in AI chip demand.

Nvidia, the chip giant, announced that this marks the largest increase in share repurchase authorization in history. The company anticipates completing the entire remaining buyback program by fiscal year 2028.

Nvidia manufactures the most advanced chips used for artificial intelligence and has significantly benefited from the surge in investment in the infrastructure required to support this technology.

Over the past year, Nvidia’s shares have risen by 24%, increasing the company’s market capitalization to $5.42 trillion. The stock gained 2.8% on Monday.

“NVIDIA’s growth is being fueled by a once-in-a-generation shift to artificial intelligence and accelerated computing,” CEO Jensen Huang stated.

“Our cash flow enables us to invest in technologies that drive this transformation and return capital to shareholders,” he added. “This authorization demonstrates our confidence in the long-term opportunities ahead.”

S&P Global Ratings reported in August that combined hyperscaler capital expenditures are expected to surpass $1.3 trillion by 2027, as companies rush to develop AI infrastructure, including data centers.

Earlier this month, Huang announced that Nvidia plans to double its chip sales volume in 2027.

In addition to manufacturing leading AI chips—graphics processing units—such as its Grace Blackwell and Vera Rubin systems, the company produces a wide range of other semiconductors. These include central processing units (CPUs), switch chips, chips for optical networking, laptop chips, Jetson chips for robots and cars, and the chip used in Nintendo’s Switch 2 gaming console.

“I believe we are witnessing the largest infrastructure expansion in human history, and we are fortunate to be a central part of it,” Huang said on Monday’s episode of Verum’s “Squawk Box.”

“We anticipate generating substantial cash in the coming years, and each year, as our cash flow increases, we aim to return it to shareholders,” he stated.