Micron (MU) Moore Stress Structural Changes are Permanent, Buy on Weakness - Jefferies

October 14, 2013 7:14 AM EDT Send to a Friend
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Price: $35.62 --0%

Rating Summary:
    24 Buy, 9 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Jefferies analyst Sundeep Bajikar reiterated a Buy rating and $30 price target on Micron Technology (NASDAQ: MU) Monday saying Moore Stress structural changes are permanent.

"Based on our analysis of HDD consolidation using the Herfindahl-Hirschman Index (HHI), we believe structural changes that occurred in industry DRAM supply over the last year due to Moore Stress, are permanent," Bajikar states. "We attribute Friday's sell-off in the stock to profit taking, short-term focus on Elpida margins, and lack of investor confidence in stability of DRAM prices."

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 $16.84 yesterday.


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