01:55 PM EDT, 03/21/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lift our 12-month target to $1,191 from $1,033, 33x our CY 2025 EPS view of $36.10, above its three-year historical average, reflecting SMCI's promising growth outlook from new product cycles and share gains in servers. We lift our 2024 EPS view to $21.77 from $21.69 and 2025's to $31.44 from $30.41. We upgrade SMCI based on multiple growth drivers that can fuel 100%+ growth in 2024. SMCI is poised to benefit from strong enterprise data center demand, rising adoption of GPU servers for AI, and share gains in higher-margin racks. SMCI's partnerships with NVDA, AMD, INTC, and MU allow it to mitigate concentration risk and enable a wide moat. The company also targets 70%-75% capacity utilization, allowing it flexibility for additional wins. Exposure also goes beyond just AI to the fast-growing hardware acceleration industry (51% CAGR by 2033). We believe SMCI remains well positioned to capitalize on secular tailwinds, with strong demand and new capacity additions as growth catalysts.