Micron (MU) PT Raised to $22 at Mizuho

October 5, 2016 6:42 AM EDT
Get Alerts MU Hot Sheet
Price: $16.94 -1.57%

Rating Summary:
    29 Buy, 9 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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Mizuho Securities analyst Vijay Rakesh reiterated a Buy rating and raised estimates and the price target on Micron Technology (NASDAQ: MU) to $22.00 (from $20.00) following Q4 results above consensus and Q EPS guidance of $0.13-0.21, well above the $0.09 consensus.

Rakesh commented, "NovQ GM was guided to 23-25.5%, well above 21.6% consensus; but excluding a 200bps benefit from lower deprecation the guide was inline, which may be a disappointment. Topline growth and bit growth are accelerating, the industry is supply constrained in DRAM and NAND, and the Inotera deal should close in the Dec Q, which should all drive more GM improvement."

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 $17.80 yesterday.

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