Deutsche Bank Sees Catalysts in Micron (MU)
Get Alerts MU Hot Sheet
Rating Summary:
45 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Join SI Premium – FREE
Deutsche Bank maintained a Buy rating on Micron Technology (NASDAQ: MU) with a modified price target of $20.00 (from $28.00). Comments follow Q4 results. Analyst Sidney Ho sees catalysts in 2016.
"MU delivered a surprising beat for F4Q but guided F1Q below consensus. That said, we believe the magnitude of the miss is roughly in line with investors' expectations. While business will likely remain choppy in the next two quarters, there are a number of catalysts (20nm DRAM, new Inotera arrangement, 16nm TLC and 3D NAND) that should provide cost tailwinds for MU starting in mid-FY16. Furthermore, potential capex cuts by memory suppliers (esp Samsung) should lead to better supply-demand next year. While we cut our ests and PT for MU today, we believe risk-reward is attractive for a recovery play in 2016," said Ho.
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 $14.77 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Micron Technology (MU) plans to construct a $100B "Megafab" employing more than 9,000 workers in Upstate NY - Nikkei
- Kotak Mahindra Bank Ltd. (KMB:IN) PT Lowered to INR1,970 at Jefferies
- DCB Bank Ltd (DCBB:IN) PT Raised to INR150 at Phillip Securities
Create E-mail Alert Related Categories
Analyst Comments, Analyst PT ChangeRelated Entities
Deutsche BankSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!