Why Super Micro Computer Stock Is Plummeting Today [Yahoo! Finance]
JP Morgan Chase & Co. (JPM)
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Source: Yahoo! Finance
ET, according to data from S&P Global Market Intelligence Supermicro, as the company is sometimes called, saw its stock pull back following another bearish piece of coverage from a big name on Wall Street. Adding another source of selling pressure, today's jobs report from the U.S. Department of Labor arrived with weaker-than-expected results. J.P. Morgan no longer has a bullish rating on Supermicro stock In a report published before the market opened today, J.P. Morgan lowered its rating on Super Micro Computer from overweight to neutral. J.P. Morgan's analysts also lowered their one-year price target on Supermicro stock from $950 per share to $500 per share. Despite the downgrade, the new target would still suggest upside of roughly 28% based on the stock's current price. J.P. Morgan's analysts said that the decision to downgrade the stock was not directly related to the short report that was published by Hindenburg Research earlier this month. They also said that the downwa
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