BofA Bullish on Super Micro Computer, Raises Price Target to $1,280 on Booming AI Server Demand
• BofA raised Super Micro Computer's (SMCI) price target by $240 to $1,280 per share based on growth projections for the AI server market
• SMCI stock is up over 300% year-to-date and more than 1,150% in the last 52 weeks
• BofA expects AI server industry revenues to surge from $39 billion in 2023 to around $200 billion by 2027
• SMCI has competitive advantages in the AI server market including customizable configurations and liquid cooling
• SMCI is positioned for robust revenue growth fueled by server demand for AI, high performance computing, big data analytics, and other applications