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

October 14, 2013 7:14 AM EDT
Get Alerts MU Hot Sheet
Price: $22.84 +4.34%

Rating Summary:
    32 Buy, 8 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 17 | New: 10
Trade MU Now!
Join SI Premium – FREE
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.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments

Related Entities

Jefferies & Co

Add Your Comment