RBC Capital Raises Estimates on Micron (MU); Sees Aug. Qtr EPS Well Above the Street

RBC Capital analyst Mitch Steves raised estimates while reiterating an Outperform rating and $55.00 price target on Micron Technology (NASDAQ: MU).

• raising estimates on Micron to reflect an improving memory environment and our sense that the Company has raised prices by 10% during the quarter.
• while August has not come to a close, we think we'll be ahead in terms of estimate revisions and move to $0.60 for the August quarter which is well ahead of their $0.38-0.52 guidance.
• Importantly, we wouldn't be surprised to see numbers ahead of our new $0.60 in-print number and note that we are now Street high.

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 $43.81 yesterday.

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