Supermicro initiated with a Neutral at Goldman Sachs

Goldman Sachs initiated coverage of Supermicro with a Neutral rating and $941 price target. The company is a specialized supplier of high-performance server and storage systems with longstanding partnerships with key artificial intelligence component suppliers that have helped to transform itself into a leading AI infrastructure company, the analyst tells investors in a research note. The firm says Supermicro is an “AI winner,” which helps to justify the stocks nearly 1,000% move since the beginning of 2023. However, Goldman now views the stock as fairly valued.