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Fly News Breaks for June 26, 2015
MU
Jun 26, 2015 | 07:52 EDT
Topeka said its constructive thesis on Micron is intact despite near-term headwinds. The firm expects accelerating cost improvement in late 2015/early 2016 to drive a gross margin recovery in a stabilizing environment and for a balanced supply-demand situation in both DRAM and NAND. Topeka maintains its Buy rating on shares and lowered its price target to $28 from $35.