Wedbush Upgrades Micron Technology (MU) to Outperform; Believe The Worst of Times Is Likely in the Rear View Mirror
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Price: $971.66 +2.30%
Rating Summary:
52 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
52 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wedbush upgraded Micron Technology (NASDAQ: MU) to Outperform with a price target raised from $7 to $8.
Wedbush analyst says, "...we believe the worst of times for the company is likely in the rear view mirror. We think DRAM, which has been the biggest drag on Micron’s profitability, has finally reached a bottom here in FQ2 (Feb) likely returning to profitability in FQ3 (May), driven by stable DRAM prices and increasing unit demand trends as the hard disk drive (HDD) industry begins to recover from the impact of the Thailand floods. We think with the DRAM market at a trough, considerable tailwinds for NAND (i.e. SSDs, smartphones, and tablets) demand in 2012, and the stock trading at 0.7x tangible book value, that the risk/reward here is compelling and recommend investors buy shares of 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 $5.54 yesterday.
Wedbush analyst says, "...we believe the worst of times for the company is likely in the rear view mirror. We think DRAM, which has been the biggest drag on Micron’s profitability, has finally reached a bottom here in FQ2 (Feb) likely returning to profitability in FQ3 (May), driven by stable DRAM prices and increasing unit demand trends as the hard disk drive (HDD) industry begins to recover from the impact of the Thailand floods. We think with the DRAM market at a trough, considerable tailwinds for NAND (i.e. SSDs, smartphones, and tablets) demand in 2012, and the stock trading at 0.7x tangible book value, that the risk/reward here is compelling and recommend investors buy shares of 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 $5.54 yesterday.
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