Super Micro Computer Stock Is Soaring Monday: What's Going On?
Portfolio Pulse from Adam Eckert
Super Micro Computer Inc (NASDAQ:SMCI) shares surged after being selected to join the S&P 500, replacing Whirlpool and Zions Bancorp. The inclusion, part of the S&P Dow Jones Indices' quarterly rebalance effective March 18, often leads to a temporary stock price increase. Goldman Sachs initiated coverage with a Neutral rating and a $941 price target. Wall Street views Super Micro as Neutral overall, with significant stock price growth over the past year.
March 04, 2024 | 1:38 pm
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Super Micro Computer Inc's stock surged after being selected for S&P 500 inclusion and receiving a Neutral rating from Goldman Sachs with a $941 price target.
The inclusion in the S&P 500 typically leads to a temporary stock price increase due to adjustments in ETFs and mutual funds portfolios. The Neutral rating from Goldman Sachs, along with a significant price target, indicates a positive yet cautious outlook from analysts.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100