Update: BofA Securities Adjusts Price Target on Super Micro Computer to $39 From $38, Maintains Underperform Rating

MT Newswires Live01:16

(Updated with analyst's commentary).

BofA Securities raised its price target on Super Micro Computer (SMCI) to $39 from $38 following the company's reported Q1 report, with strong demand in AI and non-AI configurations. It also raised revenue and gross margin guidance.

However, the brokerage said it remains cautious on sustainability of margins. It also noted that working capital requirements remain large, and sees FCF remaining negative. Thus, it maintained its Underperform rating on the stock.

Super Micro Computer has an average rating of hold and mean price target of $44.07, according to analysts polled by FactSet.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 30.40, Change: -0.99, Percent Change: -3.15

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