Super Micro price target raised to $35 from $23 at JPMorgan

JPMorgan raised the firm’s price target on Super Micro (SMCI) to $35 from $23 and keeps an Underweight rating on the shares. The company’s fiscal Q2 earnings report was mixed, with near-term results and outlook falling short in terms of revenue, margins, and earnings, led by the widely reported supply chain constraints related to next-generation processing units, shifting customer backlog to Blackwell-based products, and weaker margins on existing and mature products, the analyst tells investors in a research note. The firm upped the price target to reflect increased conviction from the management team to meet regulatory deadlines. Super Micro needs execution proof points before credit can be given for its “aggressive” fiscal 2026 revenue and margin expectations, contends JPMorgan.