Micron Technology (MU) Should See A First Time Profitable Bottom - Credit Suisse

September 23, 2019 6:55 AM

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".

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 $49.28 yesterday.

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