Wedbush upgraded Super Micro Computer to Neutral from Underperform with a $250 price target. The firm says it “missed a fundamental shift” in the company’s fiscal Q2 report that drove growth over the last few months and “created the foundation for the upbeat” fiscal 2024 outlook. While Super Micro’s growth is being dictated by component availability, there is no near-term negative catalyst for the stock, the analyst tells investors in a research note. The firm also sees “some potential for upside” from news and its results.
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