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Fly News Breaks for September 11, 2019
MU
Sep 11, 2019 | 07:33 EDT
Wells Fargo analyst Aaron Rakers raised his price target for Micron to $60 from $50 ahead of the company's upcoming Q4 earnings. The analyst expects Micron to report Q4 results toward the high-end of the guided $4.3B-$4.7B/38c-52c range. With shares of Micron 57%-plus year to date, he thinks the company's ability to confidently reiterate its expectation of mid-teens DRAM bit growth in the second half of 2019, coupled with moderating price declines, and thus a return to EPS at $5/share-plus will be needed to move shares appreciably higher. Rakers reiterates an Outperform rating on the shares.
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