Wells Fargo Maintains an 'Outperform' on Micron Technology (MU); Earnings Solid DRAM Bit Growth, Stabilizing DRAM Prices

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Wells Fargo maintains an 'Outperform' on Micron Technology (NASDAQ: MU) price target range raised from $8-10 to $10-12.

Analyst, David Wong, said, "Over the last few years Micron has successfully diversified beyond commodity DRAM to establish substantial businesses in specialty DRAM, NAND flash, NOR flash and image sensors which we think could help improve profit stability somewhat. We believe that solid growth in the computer space will drive DRAM growth over the next several years. We view NAND flash as a segment that has high growth potential given the many new applications that NAND flash is used for."

FY2012E EPS go to -$0.44 from -$0.42.

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 $8.71 yesterday, with a 52 week range of $3.97-$11.89.

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