RBC Capital Starts Micron Technology (MU) at Outperform

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RBC Capital initiated coverage on Micron Technology (NASDAQ: MU) after the close Tuesday with an Outperform rating and $11 price target.

The firm said the next leg-up for the shares are: 1) second derivative improvements in DRAM; 2) balance sheet issues across DRAM competitors lead to industry capacity consolidation; 3) share gains in NAND; and 4) improving trends in NOR.

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 $8.63 yesterday, with a 52 week range of $3.97-$11.89.

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