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Fly News Breaks for June 23, 2016
MU
Jun 23, 2016 | 07:20 EDT
As previously reported, Nomura analyst Romit Shah upgraded Micron to Buy from Reduce and raised its price target to $18 from $8. Shah double upgrade is based on recent supply shortages in memory, firmer pricing, and 20nm execution. He believes that semiconductor fundamentals are healthy or improving across several areas, including analog, SSDs,DRAM, and capital equipment. Further, The analyst believes Micron has executed in delivering muchmore 20nm volume in the marketplace, which should drive positive operating margins as costs decline 15-20%.
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