Micron (MU) PT Up to $43 at BofA/Merrill Lynch

BofA/Merrill Lynch analyst Simon Dong-je Woo reiterated a Buy rating on Micron Technology (NASDAQ: MU) and raised his price target to $43.00 (from $40.00) following Q3 results citing better earnings momentum.

"New guidance following May-end FQ3-14 results clearly confirms up-cycle or record-high profit for not only FQ4-14 but also FY15," the analyst said. The key contributor should be ASP.

The firm raises EPS estimates for FQ4-14 and FY15 by 23% and 9% respectively at higher ASP.

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 $31.26 yesterday.

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