Barclays Cuts Numbers on Micron Technology (MU); Still Optimistic on Long-Term Recovery

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Barclays maintains an 'Overweight' on Micron Technology (NASDAQ: MU) price target of $11.00.

Analyst, C.J. Muse, said, "While a trough will likely come in the August Q (as opposed to our/consensus outlook coming in for the May Q), we view management's optimistic 2HCY12 outlook for memory, comments that it will only do a good, accretive Elpida deal, and the market's conservative approach to bit supply as confirmations that our positive thesis holds."

Muse lowers Aug Qtr loss from -0.02 to -0.27 and FY12 to -0.84

For an analyst ratings summary and ratings history on Micron Technology click here. For more ratings news on Micron Technology click here.

Shares of Micron Technology closed at $6.12 yesterday, with a 52 week range of $3.97-$9.16.

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