Super Micro Computer shares rise 9.1% on JPMorgan's "Overweight" rating and $1,150 price target due to AI compute market leadership.
Super Micro Computer (SMCI) shares surge 9.1% after JPMorgan initiates coverage with an "Overweight" rating and a $1,150 price target, reflecting the company's leadership in the AI compute market. JPMorgan analyst Samik Chatterjee states that Super Micro is the leading company in AI computing and expects robust demand to continue, driven by the adoption of AI. Northland analyst Nehal Chokshi also ups his price target to $1,300, maintaining an outperform rating on SMCI.
March 25, 2024
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