Super Micro price target lowered to $24 from $34 at BofA

BofA lowered the firm’s price target on Super Micro (SMCI) to $24 from $34 and keeps an Underperform rating on the shares. While the company is not named a defendant in the indictment of co-founder Wally Liaw, the firm sees this episode as another negative on Super Micro’s brand. The indictment could lead to some suppliers restricting the company’s assets to components, some customers pausing orders or awarding contracts to competitors, and more regulatory scrutiny, the analyst tells investors in a research note.