Why Super Micro Computer Stock Charged Higher on Monday Morning
The stock of Super Micro Computer (NASDAQ: SMCI), also known as Supermicro, continued its meteoric rise to kick off the week. It jumped as much as 10.3% on Monday morning, and as of 11:59 a.m. ET today, the stock was still up 9.1%.
The catalyst that sent the artificial intelligence (AI) server maker higher was bullish coverage from a pair of Wall Street analysts.
The first bit of bullish commentary comes courtesy of analyst Samik Chatterjee, who initiated coverage with an overweight (buy) rating and a $1,150 price target. This suggests potential upside of 18% compared to Friday's closing price.
Source Fool.com
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