Barclays reinstated coverage of Super Micro (SMCI) with an Equal Weight rating and $59 price target The company is now compliant with its filing requirements, removing the overhang of a potential delisting, the analyst tells investors in a research note. The firm thinks the stock should now trade on fundamentals. Barclays recognizes Super Micro’s leadership position in artificial intelligence server and direct liquid cooling, but believes that its “competitive moat is shrinking and its checkered past” could limit the share multiples investors are willing to pay for the stock.
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