Barclays Downgrades Super Micro Computer to Equal-Weight, Lowers Price Target to $438
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst George Wang has downgraded Super Micro Computer (NASDAQ:SMCI) from Overweight to Equal-Weight and reduced the price target from $693 to $438.

September 04, 2024 | 1:48 pm
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Barclays has downgraded Super Micro Computer from Overweight to Equal-Weight, with a significant reduction in the price target from $693 to $438, indicating a less optimistic outlook.
The downgrade from Overweight to Equal-Weight suggests a neutral stance from Barclays, indicating that the stock may not outperform the market. The significant reduction in the price target from $693 to $438 reflects a less optimistic view on the company's future performance, likely leading to a negative short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100