Micron (MU) PT Raised to $19 at Cowen as Rising ASPs Suggest EPS Upside
- Dollar lower, stocks flat as caution creeps in ahead of Trump inauguration
- General Electric (GE) Reports In-Line Q4 EPS
- Procter & Gamble (PG) Tops Q2 EPS by 2c
- IBM (IBM) Tops Q4 EPS by 13c, FY17 EPS Guidance Beats Consensus
- American Express (AXP) Misses Q4 EPS by 7c, FY17 EPS Guidance Tops Views at Mid-Poinit
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Cowen analyst Timothy Arcuri reiterated an Outperform rating and raised his price target on Micron Technology (NASDAQ: MU) to $19.00 (from $15.00) saying rising ASPs suggest upside to the company's August quarter.
"Barring a surprise on costs, 3rd party pricing implies EPS more like ($0.05) base case and maybe even breakeven - far better than Street ($0.16)," Arcuri said.
"We are increasing estimates and target from $15 to $19 and believe MU now likely moves ahead w/Inotera at existing terms as a deal with China (Tsinghua) appears likely. Samsung remains key for '17," he added.
Shares of Micron Technology closed at $16.49 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Checkpoint Software (CHKP) PT Raised to $105 at Instinet
- UPDATE: JPMorgan Upgrades Checkpoint Software (CHKP) to Overweight
- Deutsche Bank Starts Essent Group (ESNT) at Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Analyst PT Change
Related EntitiesCowen & Co
Sign 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!