Jefferies Maintains a 'Buy' on Micron Technology (MU); Expect Share Gains From Acquisition

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Jefferies maintains a 'Buy' on Micron Technology (NASDAQ: MU) price target of $11.00.

Analyst, Sundeep Bajikar, said, "Micron announced its acquisition of Elipda, and we are buyers of MU stock, as: 1) near term, we expect increased coordination between Micron and Elpida to enable Micron's share gains in specialty DRAM and embedded NAND, and 2) longer term, we expect scale benefits to translate into higher margins for the combined entity. We also expect higher visibility into the acquisition to allay investor concerns and drive multiple expansion for 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 $6.55 yesterday, with a 52 week range of $3.97-$9.16.

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