Northland analyst Nehal Chokshi lowered the firm’s price target on Super Micro (SMCI) to $59 from $70 and keeps an Outperform rating on the shares. Guidance disappointed relative to the firm’s “bullish expectations” and although the firm is maintaining its expectation of sequential ramps through FY26 as Blackwell ramps, it is reducing FY26 estimates as a result of lower than expected June quarter guidance, the analyst tells investors.
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