As noted earlier, DA Davidson upgraded Super Micro Computer (SMCI) to Buy from Neutral. Analyst Mark Kelleher expects the company to report strong December quarter results and predicts that it will benefit from the rollout of Intel's (INTC) Sky Lake product and the strong growth of its own storage product. Target to $32 from $25.

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KeyBanc initiated coverage of Supermicro with a Sector Weight rating and no price target. The shares are currently trading relatively inline with Supermicro's infrastructure peer group, the analyst tells investors in a research note. The firm says the company is well positioned to benefit from secular artificial intelligence growth trends provided its ability to deliver highly customized full IT solutions leveraging its in-house engineering design expertise based on latest technology. KeyBanc notes Supermicro is addressing a $141B total server addressable market in 2024, which is forecasted to grow to $187B by 2027, implying a three-year annual growth rate of 10%.