Micron Technology (MU) Should See A First Time Profitable Bottom - Credit Suisse
Credit Suisse analyst John Pitzer reiterated an Outperform rating and $90.00 price target on Micron Technology (NASDAQ: MU) ahead of F4Q earnings on 9/26 after the market close. The analyst believes the company could print Rev/EPS of ~$4.6B-$4.8B and $0.60-$0.65 versus Street consensus of $4.5B and $0.45.
The analyst stated "upside is better pricing with F4Q DRAM/NAND ASPs down ~17%/~10% q/q versus our estimate of down ~23%/~15% q/q – the former INLINE with contract, the latter worse than contract of flattish q/q, but building in cushion for mix shifts".
Shares of Micron Technology closed at $49.28 yesterday.