Stable Memory Prices Positive For Micron (MU)

Despite the typical seasonal slowdown in demand for DRAM and NAND, spot pricing this holiday week appears to be holding fairly steady. This suggests memory supply/demand is likely balanced, according to a report today by analysts at Wedbush.

"We view this as a positive read-through to Micron (NASDAQ: MU) and think the recent sell-off in the stock following the below-consensus FQ1 (Nov) earnings results on Dec 20, has created a compelling entry point for investors with a higher risk/reward tolerance," said analyst Betsy Van Hees.

Wedbush has an Outperform rating on Micron Technology with a price target of $8.00.

For an analyst ratings summary and ratings history on Micron Technology (NASDAQ: MU) click here. For more ratings news on Micron Technology click here.

Shares of Micron Technology closed at $6.22 yesterday.

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