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%.
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