Stable Memory Prices Positive For Micron (MU)

December 28, 2012 7:46 AM EST
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Price: $12.31 +3.01%

Rating Summary:
    26 Buy, 10 Hold, 5 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 5 | Down: 17 | New: 12
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Despite the typical seasonal slowdown in demand for DRAM and NAND, spot pricing this holiday week appears to be holding fairly steady. This suggests memory supply/demand is likely balanced, according to a report today by analysts at Wedbush.

"We view this as a positive read-through to Micron (NASDAQ: MU) and think the recent sell-off in the stock following the below-consensus FQ1 (Nov) earnings results on Dec 20, has created a compelling entry point for investors with a higher risk/reward tolerance," said analyst Betsy Van Hees.

Wedbush has an Outperform rating on Micron Technology with a price target of $8.00.

For an analyst ratings summary and ratings history on Micron Technology (NASDAQ: MU) click here. For more ratings news on Micron Technology click here.

Shares of Micron Technology closed at $6.22 yesterday.

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