Lynx Equity Strategies Back on the Micron (MU) Bull Side Ahead of Print, PT Raised to $110
- Wall Street rises as big banks kick off earnings season
- JPMorgan (JPM) Reports a Q1 Beat on Revenue and Profit Fueled by Release of $5.2 Billion Reserved for Bad Loans; Shares Slightly Down
- Coinbase (COIN) direct listing IPO reference price set at $250
- Bernie Madoff, disgraced Ponzi schemer, dies at 82
- Goldman Sachs (GS) Q1 EPS Nearly Doubles Wall Street's View as Investment Banking Excels Amid SPAC and IPO Frenzy
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Lynx Equity Strategies analysts KC Rajkumar and Jahanara Nissar raised the price target on Micron (NASDAQ: MU) from $90 to $110 into results after the close. The analysts note an "unexpected" source of strength in mobile dram.
The analysts said they are detecting a degree of caution going into the print tonight versus the sense of enthusiasm earlier this month. However, they think it is now appropriate to get back on the long side ahead of the call tonight after stepping away ahead of an investor event earlier this month.
"We are raising our price target from $90 to $110 based on our view of demand tightening in a segment of the memory market that the Street has not yet woken up to," the analysts commented. "Back in Dec, we raised MU price target to $90 (link) in part based on our thesis of tightness in lpDDR5 due to AAPL’s M1 Mac adopting lpDDR5, typically favored by high-end smartphones, instead of DDR4 used in x86 Mac. Of late we have noticed what perhaps is an even more consequential change in the memory market. INTC has transitioned 10nm CPUs from PC-centric DDR4 to mobile-centric lpDDR4x."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Ultra Clean (UCTT) PT Raised to $59 at Cowen
- Eramet (ERA:FP) (ERMAY) PT Raised to EUR103 at Societe Generale
- Public Storage (PSA) PT Raised to $288 at BofA Securities After Accretive Acquisition
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Trader Talk
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!