Why Super Micro Computer Stock Rallied on Thursday

Shares of Super Micro Computer (SMCI 11.94%), also known as Supermicro, jumped Thursday, climbing as much as 13%. As of 1:54 p.m. ET, the stock was still up 12.3%.The catalyst that drove the server and storage solution specialist's stock higher was bullish coverage by a major bank.A Street-high price targetBank of America analyst Ruplu Bhattacharya initiated coverage on Supermicro, assigning a buy rating and a Street-high price target of $1,040, according to TheFly. This suggests a potential upside of 18% c ...