Super Micro Poised for Expansion as Gross Margin Concerns Ease, Internal Control Risks Priced In: Analyst

Needham analyst Quinn Bolton initiated coverage on Super Micro Computer Inc SMCI with a Buy rating and a price target of $600. Bolton noted Super Micro as a "show me" story on its margin recovery, justifying its multiple being at a slight premium to its hardware rivals. The analyst noted that the stock price reflects most of the risk associated with the Board's review of internal controls. Also Read: NVIDIA, Micron, SMCI Stocks Are Down Monday: What's Going On? Bolton noted Super Micro as a significant bene ...