Information Provided By:
Fly News Breaks for September 18, 2019
MU
Sep 18, 2019 | 09:23 EDT
Goldman Sachs analyst Mark Delaney raised his price target on Micron shares to $59 from $56 ahead of the company's Q4 earnings report on September 26, stating that he expects non-GAAP EPS to be above the mid-point of guidance given his view that increased bit volumes should help results in the August quarter. For the November quarter, or fiscal Q1, he sees fundamentals benefiting from a combination of higher volumes, a slight quarter-over-quarter increase in NAND average selling prices, and a more modest sequential decline in DRAM ASPs, resulting in EPS guidance he expects to be slightly above consensus. Delaney keeps a Buy rating on Micron shares.