Bernstein Upgrades Micron Technology (MU) to Outperform on Attractive Risk/Reward

(Updated - January 9, 2019 8:24 AM EST)

(updated to add analyst comments)

Bernstein analyst Mark Newman upgraded Micron Technology (NASDAQ: MU) from Market Perform to Outperform with a price target of $52 (from $60).

Newman said while they still see 20% potential further downside in a worst case scenario, the risk/reward is now too attractive to ignore.

The price target implies 8x LT sustainable EPS.

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 $34.30 yesterday.

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