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Fly News Breaks for June 9, 2016
MU
Jun 9, 2016 | 08:45 EDT
BofA/Merrill analyst Simon Dong-je Woo raised Micron's price target to $10 from $9 following the announcement that the deal to acquire the remaining stake in Inotera is now delayed, and could be terminated. The analyst continues to believe earnings misses will continue into Q3 and Q4, and ASPs and margins being lower than expected. Woo reiterates his Underperform rating and sees downside to guidance.
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