Super Micro price target raised to $30 from $27 at Goldman Sachs

Goldman Sachs analyst Michael Ng raised the firm’s price target on Super Micro (SMCI) to $30 from $27 and keeps a Sell rating on the shares. The stock traded lower after the company’s negative pre-announcement for Q1, which includes a revenue miss driven by deliveries pushed from Q1 to Q2 as customers upgrade their designs, the analyst tells investors in a research note. The firm adds that Super Micro’s revenue miss would likely pressure margins, though Goldman is also encouraged by the order momentum, particularly against the backdrop of investor concerns around share loss.