Micron Technology (MU): DRAM Pricing Expected To Improve Into 4Q - Mizuho
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Mizuho Securities analyst, Vijay Rakesh, reiterated his Outperform rating on shares of Micron Technology (NASDAQ: MU) noting that Mizuho's Asian team, post their visit to Korea, expects DRAM pricing to improve further in 4Q16 at Samsung and a healthy NAND with strong demand for SSD and mobile. Samsung expects DRAM price recovery to continue into 4Q16, with PC/DRAM pricing improving 1-5% in 4Q16 while mobile DRAM price decline should moderate to 5%.
No change to the price target of $20.
Shares of Micron Technology closed at $16.70 yesterday.
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