BofA analyst Ruplu Bhattacharya raised the firm’s price target on Supermicro to $1,280 from $1,040 and keeps a Buy rating on the shares. The firm has raised its expectation for artificial intelligence server industry growth based on the firm’s semiconductor analyst team’s revised outlook for accelerator total addressable market and now expects industry revenues to grow from about $39B to about $200B between 2023-2027, the analyst tells investors. The firm adds that Supermicro’s competitive advantages include a building block architecture that helps to quickly incorporate new technology and reduce time to market, relationship with leading AI CPU/GPU/ASIC providers, its ability to customize configurations to specific customer applications and its liquid cooling offerings.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on SMCI:
- Super Micro Computer (NASDAQ:SMCI) Surges Again Due to Analyst Love
- TipRanks’ All-Star Analyst – Who is the Best on SMCI Stock?
- Top Analyst Jim Kelleher Chooses the Best AI Stocks to Buy: Nvidia and Super Micro Computer Stand Out
- Nvidia initiated, Target upgraded: Wall Street’s top analyst calls
- Argus starts Supermicro at Buy, sees multiple years of strong top-line growth