Micron Technology (MU) Earnings Preview - Morgan Stanley

Morgan Stanley analyst Joseph Moore reiterated an Overweight rating and $105.00 price target on Micron Technology (NASDAQ: MU) ahead of results later this week. The company preannounced in early March noting that prices should be up sharply in the May quarter. That said, the analyst expects some offsets as well. The company remains capacity constrained which will likely lead to units being down.

The analyst stated "Back when the company pre-announced they cited ongoing strength in DRAM pricing and volumes, and stronger NAND volumes, as well as ongoing demand strength across the company's end markets, including enterprise which had been an area of weakness in recent quarters. Our checks continue to show significant improvement in pricing in the May quarter time frame, with the back half of the year likely to be strong for both commodities as long as demand trends remain intact."

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 $87.80 yesterday.

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