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Fly News Breaks for March 31, 2016
MU
Mar 31, 2016 | 06:43 EDT
Macquarie analyst Deepon Nag downgraded Micron citing lack of any meaningful catalysts over the next several quarters. The firm's global memory continues to be cautious on DRAM into CY16 as they don't see Samsung or Hynix to giving up share to Micron. Further, the analyst said any potential Chinese investment in Micron is less likely following The Committee on Foreign Investment in the United States' review of the Unisplendor and Western Digital agreement. Nag lowered his price target on Micron shares to $12 from $14.
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