Super Micro Computer (SMCI) PT Lifted to $31 at Needham & Company on 'Beat and Raise'

Needham & Company analyst Richard Kugele reiterated a Buy rating and bumped his price target on Super Micro Computer (NASDAQ: SMCI) to $33.00 (from $31.00) following another 'beat and raise' quarter.

Kugele commented, "Robust growth in APAC and the US drove another record quarter for SMCI, which we expect will dispel fears that the newly combined Lenovo/IBM low-end server business is cratering the broader server market. We continue to believe that the company’s unique set of application-tailored offerings drive both customer loyalty and separate the company from some of the more aggressive price battles in the space. We reiterate our Buy as the Windows 2003 server refresh, and later the Windows 2008 server initial end-of-life, combine with the recently launched Grantley processor for a potentially strong server upgrade cycle next year."

The firm raised FY 2015 EPS from $0.47 to $0.49 and FY 2016 EPS from $0.52 to $0.61.

For an analyst ratings summary and ratings history on Super Micro Computer click here. For more ratings news on Super Micro Computer click here.

Shares of Super Micro Computer closed at $26.48 yesterday.

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