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Fly News Breaks for June 26, 2019
MU
Jun 26, 2019 | 06:53 EDT
Piper Jaffray analyst Harsh Kumar lowered his price target on Micron shares to $36 from $40 following the company's May quarter earnings announcement, stating that he suspects pricing pressure for both DRAM and NAND could continue for the next several quarters. Though he believes the company is seeing the early stages of a recovery, particularly in the cloud, graphics, and client markets, Kumar thinks broader demand may be more tempered than previously expected and he remains cautious. The analyst keeps a Neutral rating on Micron shares.
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