JP Morgan Downgrades Super Micro Computer to Neutral, Lowers Price Target to $500
Portfolio Pulse from Benzinga Newsdesk
JP Morgan has downgraded Super Micro Computer (SMCI) from Overweight to Neutral and reduced its price target from $950 to $500.
September 06, 2024 | 12:23 pm
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JP Morgan has downgraded Super Micro Computer from Overweight to Neutral, significantly lowering the price target from $950 to $500.
The downgrade from Overweight to Neutral by a major financial institution like JP Morgan is likely to negatively impact investor sentiment. The drastic reduction in the price target from $950 to $500 suggests a significant reassessment of the company's future performance, which could lead to a short-term decline in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100