Nvidia NASDAQ:NVDA and Lam Research NASDAQ:LRCX were among the largest companies included in Oppenheimer's latest "best of the best" momentum screen, which highlights stocks with favorable technical trends alongside the firm's fundamental research coverage, according to a recent research note.
Oppenheimer said the rankings are based on its proprietary Momentum Overlay scoring system, which evaluates stocks using risk-adjusted returns over six-, nine- and 12-month periods while excluding the most recent month. A score of one represents the firm's highest momentum ranking. All companies on the list carry Outperform ratings and Buy trend assessments.
Alongside Nvidia and Lam Research, the screen includes Airbnb NASDAQ:ABNB, Comfort Systems USA (FIX), Idex (IEX), James Hardie Industries NYSE:JHX, DigitalOcean (DOCN), Modine Manufacturing (MOD), Aurora Innovation NASDAQ:AUR and several other companies across industrial, technology and healthcare sectors.