Close

Wells Fargo Reiterates an 'Outperform' on Micron Technology (MU); Favorable Terms for Elpida Acquisition

July 2, 2012 11:01 AM EDT
Get Alerts MU Hot Sheet
Price: $117.75 -1.26%

Rating Summary:
    45 Buy, 7 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
Join SI Premium – FREE
Wells Fargo reiterates an 'Outperform' on Micron Technology (NASDAQ: MU) price target range $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."

Specifically regarding the acquisition of Elpida, Wong considers the acquisition price
and terms of payment for Elpida to be favorable to Micron.

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 $6.31 yesterday.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Mergers and Acquisitions

Related Entities

Wells Fargo