The bank raised its price target on the stock to $1,280 per share.
Super Micro Computer has more room to run given its competitive advantage and relationships in the artificial intelligence sector, Bank of America said. Analyst Ruplu Bhattacharya hiked his price target by $240 to $1,280, now implying upside of 10.1% from Tuesday's close. Bhattacharya also reiterated his buy rating.
mountain Super Micro Computer, year to date The analyst's new target price also offers reassurance that the stock's rally isn't losing steam. Super Micro shares have already surged more than 300% this year as the AI craze continues, adding to 2023′s jump of more than 240%.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Buy these stocks for 'outsized' performance in a bull market, Bank of America saysBank of America names a slew of buy-rated stocks to buy as the market momentum continues.
Read more »
Frost Bank to donate $1M to Alamo, becoming ‘official bank’ of historic siteFrost Bank's $1 million donation is the latest large gift to the Alamo, which is undergoing a roughly $500 million expansion.
Read more »
How NVIDIA leads the world by making AI user-friendlyDT Video
Read more »
AI-Linked Tokens Surge on Nvidia Hype; Nigeria's SEC Cracks Down on Crypto'CoinDesk Daily' host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, including the 25% surge in artificial-intelligence tokens over the past 24 hours, according to data tracked by CoinGecko. Plus, Nigeria's SEC updates guidelines for crypto firms in an attempt to stop 'criminal activities.
Read more »
Stocks gain for a second day on easing inflation hopes, Nvidia leads Nasdaq higher: Live updatesStocks rose Thursday, as hope over easing inflation and gains in tech helped Wall Street claw back more of this week's losses.
Read more »
Stocks making the biggest moves midday: Nvidia, Marvell Technology, Costco, Eli Lilly and moreThese are the stocks posting the largest moves in midday trading.
Read more »