Nomura Securities Maintains a 'Neutral' on Micron Technology (MU); Raising PT

Nomura Securities maintains a 'Neutral' on Micron Technology (NASDAQ: MU) price target raised from $6.50 to $8.00.

Analyst, Sidney Ho, said, "With industry supply growth tightening and the potential for consolidation, we believe Micron’s share should trade at a normalized valuation multiple. We believe further multiple expansion would require a recovery in end-market demand, which is still elusive. We raise our FY12 EPS estimate slightly from a loss of $(0.54) to a loss of $(0.45) to reflect stronger DRAM pricing for the next 2 quarters."

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 $7.65 yesterday.

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