Micron Technology (MU) PT Raised to $135 at Susquehanna Following Raised Guidance
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Susquehanna analyst Mehdi Hosseini raised the price target on Micron Technology (NASDAQ: MU) to $135.00 (from $125.00) while maintaining a Positive rating after the company raised Q2 guidance.
The analyst commented, "As was expected, MU preannounced the Feb-Q this morning. We are increasing our estimates/PT, and note that despite the recent rally, there remains an attractive risk/reward profile on the LONG side given the inherent leverage in the P&L that has just started to materialize. We believe the peak earning power could reach low teens, if not higher, vs. our updated CY21 EPS estimate of $7.08 and consensus of $5.60. This illustrates the extent of upside to earnings and also sustainability into CY22 that could materialize as ASPs across the board increase and margins expand. The next catalyst is for MU management and our peers to highlight increasing NAND ASPs into the spring while DRAM ASP increase strengthening."
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesSusquehanna International Group of Companies, Earnings
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