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Fly News Breaks for December 17, 2018
MU
Dec 17, 2018 | 07:53 EDT
Cowen analyst Karl Ackerman lowered his price target on Micron to $45 from $62 and reduced his CY19 estimate to $7.00 from $8.25, which he notes is below the Street's $9.25. He believes the buyside may have already priced in even lower earnings for 2019. He said the near-term remains challenged and expects the company to significantly guide below consensus after they pre-announced an in-line quarter just a month ago. However, Ackerman maintained his Outperform rating on Micron shares.
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