Why Super Micro Computer Stock Rallied (Again) Wednesday Morning
Super Micro Computer (NASDAQ: SMCI), also known as Supermicro, continued to gain ground on Wednesday after a brief pause. The stock was up by as much as 7.2% in morning trading, and as of 11:35 a.m. ET, it was still up by 4.2%.
The catalyst that sent the artificial intelligence (AI) server maker higher Wednesday was (more) rosy coverage from a Wall Street analyst.
The latest bullish commentary came courtesy of Argus Research analyst Jim Kelleher, who initiated coverage on Supermicro with a buy rating and a Street-high price target of $1,350 per share. This suggests potential upside of 24% compared to Tuesday's closing price.
Source Fool.com
