Nomura downgraded Supermicro to Neutral from Buy with an unchanged price target of $930. The analyst says order uncertainties may partially offset the company’s strength in liquid cooling. The firm believes Supermico’s performance potential changed from “easy to beat low market expectations” in Q4 of 2023to “less room to beat already-high market expectations” in Q1. Limited order visibility could make it difficult for Supermicro to deliver stronger than expected sales, “and thus this could be a mixed bag,” the analyst tells investors in a research note. Nomura now sees limited upside potential in the shares.
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