Micron Technology (MU): Accelerating Inotera Revenue Should Drive Upside - Mizuho
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Mizuho Securities analyst, Vijay Rakesh, reiterated his Outperform rating on shares of Micron Technology (NASDAQ: MU) noting that Inotera's recently reported SepQ revenue (up 21% q/q) and DecQ DRAM revenues accelerating to 20-25% q/q bode well for Micron.
The analyst believes that an accelerating MU topline (revenue up 30% in two quarters) should remain a tailwind into the FebQ. Also, the Micron / Inotera combination (expected 1H-Dec close) should position MU as the cheapest of all the memory OEMs against a positive DRAM industry outlook into 2017.
No change to the price target of $22.
Shares of Micron Technology closed at $17.20 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Bassett Furniture (BSET) PT Raised to $28 at Stifel Following 4Q EPS Beat
- Skyworks Solutions (SWKS) PT Raised to $105 at Oppenheimer Following 1Q Report
- Herbalife's (HLF) Debt Package News Seen as 'Enormous Positive' at Pivotal Research
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
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!