Micron (MU) Est., PT Cut at RBC Capital
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Rating Summary:
45 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
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RBC Capital analyst Doug Freedman reiterated an Outperform but trimmed estimates and his price target on Micron Technology (NASDAQ: MU) to $40.00 (from $44.00)
"We reduce our EPS estimates by 10% in FY2016 on lower DRAM bit growth expectations for FY2015 flowing through the model, but valuation continues to be attractive at 10.4x EV/NTM FCF," the analyst commented.
The firm is now below Street estimates, estimating FebQ revenues/GMs/pro-forma EPS of $4.203bil/30.0%/$0.63 vs. Street $4.196bil/33.8%/$0.77 vs. RBC prior estimates of $4.203bil/35.2%/$0.80.
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 $28.51 yesterday.
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