Micron Technology (MU): 3D NAND Ramping and QuantX Introduced at FMS2016 - Mizuho
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Mizuho Securities analyst, Vijay Rakesh, reiterated his Buy rating on shares of Micron Technology (NASDAQ: MU) after the company noted its 3D-NAND is ramping and expected to get to 60% of NAND output exiting 2016 at the FMS 2016,. MU also introduced its new line of QuantX products using 3D-Xpoint with a 5x performance versus planar NAND. Stable DRAM pricing, a focus on positive FCF into F17 and a flexible rights agreement that keeps the door open for friendly takeovers should be tailwinds for MU.
No change to the price target of $16.
Shares of Micron Technology closed at $14.48 yesterday.
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