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MU

Micron

$17.80

0.07 (0.39%)

06:47
10/05/16
10/05
06:47
10/05/16
06:47

Micron guidance likely to cause disappointment, says Deutsche Bank

Deutsche Bank analyst Sidney Ho says Micron's guidance for Q1 is likely to cause "investor confusion and disappointment" as the majority of the improvement comes from a change in accounting and non-GAAP calculation, rather than better pricing and margins. The analyst, however, still believes market conditions for both DRAM and NAND are improving and that Micron is positioned to benefit from new products. Ho reiterates a Buy rating on the shares with a $20 price target.

MU Micron
$17.80

0.07 (0.39%)

09/16/16
09/16/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Wal-Mart (WMT) coverage assumed with an Outperform from Neutral at Credit Suisse with analyst Edward Kelly saying he is encouraged by Wal-Mart's return to traffic growth against a deteriorating staples retail environment and its aggressive U.S. investments to solidify its position in an evolving industry. 2. Clorox (CLX) upgraded to Overweight from Neutral at Atlantic Equities. 3. Comerica (CMA) upgraded to Conviction Buy from Neutral at Goldman with analyst Ryan Nash saying he sees upside to Comerica's current recently announced strategic plan to improve pre-tax returns by $230M. 4. Hormel Foods (HRL) upgraded to Buy from Hold at Edward Jones. 5. Micron (MU) upgraded to Buy from Neutral at Cleveland Research with analyst Kevin Rottinghaus saying Micron's execution has improved and progress in DRAM and NAND fundamentals over the past 2-3 months is sustainable into 2017. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/29/16
NOMU
09/29/16
NO CHANGE
Target $23
NOMU
Buy
Nomura remains a Buyer of Micron, especially on weakness
Nomura analyst Romit Shah believes we are in the early part of a positive earnings revision cycle for Micron. The analyst raised his November earnings estimate to 17c, above consensus of 8c, but below "perceived" consensus of 20c-25c. Shah said DRAM's pricing outlook is the key driver as pricing and mix are improving. The analyst remains a buyer of Micron and reiterates his Buy rating and $23 price target.
10/03/16
MSCO
10/03/16
NO CHANGE
MSCO
Overweight
Morgan Stanley continues to recommend buying Micron
Morgan Stanley analyst Joseph Moore recommends to continue buying Micron given the strong pricing backdrop and strong DRAM bit growth the last 2 quarters, which should drive an earnings inflection higher. Moore sees upside to Q1 numbers and an upward revision to his FY17 $1.22 estimate as he expects DRAM pricing to remain strong, with NAND a bit more mixed, for the next several quarters. The analyst is not making a trade into tomorrow's report due to lack of transparency into guidance, but recommends buying shares into a strong November quarter and beyond. Moore rates Micron a Buy with a $20 price target on shares.
10/05/16
BMUR
10/05/16
NO CHANGE
Target $23
BMUR
Buy
Micron price target raised to $23 from $18 at Brean Capital
Brean Capital analyst Mike Burton raised his price target for Micron Technology to $23 saying the company last night delivered a "strong" top-line growth and better earnings quarter than the Street expected. The analyst, however, views the quality of the guidance raise as "poor" considering Micron is changing some of its accounting practices. Burton continues to like Micron and keeps a Buy rating on the shares.

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