UPDATE: Stifel Reiterates On Cray On Strong Increase In Top500 List Of Supercomputers

In a report published Tuesday, Stifel analyst Aaron Rakers reiterated a Buy rating on

, and raised the price target from $35.00 to $40.00. In the report, Stifel noted, “There were 68 total new systems listed for the first time in the November 2014 Top500 list. This compares to 112 new systems in the June 2014 list and 129 in the November 2013 report. Cray had 13 new systems listed in the November 2014 report, an increase from 8 and 7 new Cray systems listed in the prior and year ago reports, respectively. IBM had only three new systems showing up on the November 2014 list (2 x86-based NeXtScale installations and one Blue Gene/Q system), a dramatic change from the 56 and 47 new listed systems showing up in the prior (June 2014) and year ago Top500 lists – we believe highlighting IBM's competitive dislocation in the supercomputing industry.” Cray closed on Monday at $34.01.