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Fly News Breaks for January 21, 2016
MU
Jan 21, 2016 | 08:07 EDT
Morgan Stanley analyst Joseph Moore said Micron shares have limited downside based on a classic cyclical recovery and said shares are approaching the same valuation as in 2012 based on price to book value. The analyst continues to expect first half 2016 fundamentals to be difficult, but expects a recovery from there and substantial upside when there is a modest improvement in the market. Moore rates Micron an Overweight with an $18 price target on shares.
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