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Fly News Breaks for October 2, 2015
MU
Oct 2, 2015 | 05:49 EDT
Piper Jaffray analyst Ruben Roy believes Micron's below-consensus Q1 outlook may reflect the bottom of the DRAM weakness. The May quarter will see the first results of the new Inotera DRAM supply agreement which management maintains will be gross margin accretive, Roy tell investors in a post-earnings research note. He continues to see value in Micron shares following the recent selloff and reiterates an Overweight rating on the name with a slightly reduced price target of $22.
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