Supermicro price target lowered to $32 from $62 at Wedbush

Wedbush analyst Matt Bryson lowered the firm’s price target on Supermicro (SMCI) to $32 from $62 and keeps a Neutral rating on the shares. The firm notes that following Supermicro’s disclosure that Ernst and Young had resigned as its auditor, the stock has lost nearly half its value. And Wedbush believes questions around EY’s decision, the company’s ability to file its 10K, and a reported DOJ investigation will take precedence over Supermicro’s quarterly report and guide.