DRAM Prices are Soaring, a Positive for Micron (MU) - Mizuho

November 3, 2016 11:36 AM EDT
Get Alerts MU Hot Sheet
Price: $18.79 +1.68%

Rating Summary:
    29 Buy, 9 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 31 | New: 42
Trade MU Now!
Join SI Premium – FREE

Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.

Mizuho Securities analyst Vijay Rakesh notes DRAM prices are soaring, a positive for Micron Technology (NASDAQ: MU).

Commented, "As we show below DRAM pricing has been soaring in October and into November. Since MU reported in October, DRAM spot pricing is up 14%. Also, Inotera guided to accelerating DRAM revenue up 20-25% q/q into DecQ. We believe an accelerating MU topline should remain a tailwind into the FebQ, combined with Micron / Inotera combination (expected 1H-Dec close). Reiterating our Buy rating and $22PT."

The firm reiterated a Buy rating and price target of $22 on MU.

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 $16.68 yesterday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Analyst Comments

Add Your Comment