DRAM Prices are Soaring, a Positive for Micron (MU) - Mizuho
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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.
Shares of Micron Technology closed at $16.68 yesterday.
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