Micron's (MU) Price Target Reduced at Pacific Crest
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Summit Research Positive on Micron (MU); Sees 2nd-Half DRAM Shortages and Sees Investment from Google or Others
June 12, 2015 9:44 AM EDTSummit Research analyst Srini Sundararajan reiterated a Buy rating and $50 price target on Micron Technology (NASDAQ: MU) citing likely DRAM shortages in the 2nd-half of 2015 and the view that at least on hyperscale client will likely invest in MU stock (GOOG, AMZN, AAPL).
From the Note:
Amidst Likely DRAM Shortage in 2H15.: C2Q continues to be haunted by weak PC growth and PC DRAM (30% of MUs total DRAM sales) weakness. However, the good news on PC DRAM is that probably the worst is over, as ODMs are lean, having burnt... More
