Micron Technology (MU): Gross Margin Inflection Bodes Well For The Stock Price - Mizuho

August 22, 2016 6:25 AM EDT
Get Alerts MU Hot Sheet
Price: $16.94 -1.57%

Rating Summary:
    29 Buy, 9 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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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.

For an analyst ratings summary and ratings history on Micron Technology click here. For more ratings news on Micron Technology click here.

Shares of Micron Technology closed at $16.25 yesterday.

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