Micron Technology (MU): Gross Margin Inflection Bodes Well For The Stock Price - Mizuho
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Mizuho Securities analyst, Vijay Rakesh, reiterated his Outperform rating on shares of Micron Technology (NASDAQ: MU) and raised the price target to $20.00 (from $15.00). The analyst believes stable to improving DRAM spot and contract pricing should be an upside to GM.
The recent DRAM disruptions should cause a positive impact to pricing which should cause a tailwind into peak build. MU's stock price has historically tracked gross margin and a GM inflection in 2H16 should be a positive for the stock. 3D-NAND should drive improved 2H NAND bit growth and create a topline tailwind. MU will focus on positive F17E FCF.
Shares of Micron Technology closed at $16.25 yesterday.
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