Micron Technology (MU): Accelerating Inotera Revenue Should Drive Upside - Mizuho
- Unemployment Rate Drops to 4.6%
- Unusual 11 Mid-Day Movers 12/2: (ASNA) (HTBX) (REPH) Higher; (PLX) (MEMP) (DRYS) Lower
- Bond yields fall on U.S. jobs data, euro flat before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium 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
- Pivotal Research Downgrades Kroger (KR) to Hold
- Oppenheimer Remains Sidelined on Ambarella (AMBA) Following 3Q
- Dougherty & Co Starts Quality Systems (QSII) at Neutral
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!