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MU

Micron

$53.00

1.185 (2.29%)

, SGH

Smart Global

$46.06

0.04 (0.09%)

07:19
05/15/18
05/15
07:19
05/15/18
07:19

NAND flash negativity creates buying opportunity in Micron, says Stifel

Stifel analyst Kevin Cassidy said DRAM prices are tracking above his previous estimates for the May-ending quarter, while the NAND flash market "is growing and far from collapsing, as the bear case has it." The NAND flash negativity is overdone, creating buying opportunities in Micron (MU), Smart Global (SGH) and Western Digital (WDC), according to Cassidy. He raised his price target on Micron shares to $101 from $95 while maintaining a Buy rating on the stock. The firm also has Buy ratings on Smart Global and Western Digital.

MU

Micron

$53.00

1.185 (2.29%)

SGH

Smart Global

$46.06

0.04 (0.09%)

WDC

Western Digital

$81.11

2.32 (2.94%)

  • 21

    May

  • 30

    May

MU Micron
$53.00

1.185 (2.29%)

04/24/18
MZHO
04/24/18
NO CHANGE
MZHO
Mizuho remains buyer of Micron, Western Digital after Hynix results
Hynix reported its earnings overnight and noted DRAM supply demand could remain tight through 2018, Mizuho analyst Vijay Rakesh tells investors in a research note. Further, while Q2 tightness should ease, NAND could be significantly tighter in the second half of 2018 with channel inventory falling, the analyst adds. He sees "strong positive trends" for both Micron (MU) and Western Digital (WDC). Rakesh is a buyer of both stocks.
04/26/18
STFL
04/26/18
NO CHANGE
STFL
Signs points to continued strong demand for memory, says Stifel
Following the quarterly reports from SK Hynix and Samsung, Stifel analyst Kevin Cassidy said industry data points continue to suggest demand for memory remains strong, primarily from the data center. He also believes memory suppliers continue to act rationally in maintaining incremental supply growth. Cassidy added that his average selling price data in the May quarter to date is tracking ahead of his estimates for both Micron (MU) and SMART Global (SGH).
05/02/18
MZHO
05/02/18
NO CHANGE
Target $70
MZHO
Buy
Apple offered mixed commentary on memory, says Mizuho
Apple (AAPL) provided mixed commentary on memory on its earnings call last night, Mizuho analyst Vijay Rakesh tells investors in a research note on Micron (MU). While saying inventory was up 75% quarter-over-quarter, Apple also said it sees NAND turning a corner and declining, Rakesh points out. He believes these comments may be counter to what most investors think about DRAM being tight through year-end but close to a peak. However, the analyst says actions speak louder than words. If Apple bought components here, it probably sees tighter NAND and DRAM in the second half of the year, Rakesh argues. He has a Buy rating on Micron with a $70 price target.
05/14/18
EVER
05/14/18
NO CHANGE
Target $80
EVER
Outperform
'New' Micron here to stay, says Evercore ISI
Evercore ISI analyst C.J. Muse expects Micron's Analyst Day on May 21 to be heavily focused on the CEO and CFO's plans for the ongoing transformation of the company. Today's Micron is not the Micron of old, and neither is the memory industry, he contends, adding that he expects management to highlight how memory is no longer just a commodity but a critical component in today's third wave of computing. Muse reiterates an Outperform rating and $80 price target on the shares.
SGH Smart Global
$46.06

0.04 (0.09%)

03/23/18
NEED
03/23/18
NO CHANGE
Target $75
NEED
Strong Buy
Smart Global price target raised to $75 from $46 at Needham
Needham analyst Rajvindra Gill raised his price target on Smart Global to $75 after the company's "significant" beat on earnings and raise on guidance amid continued "shine" in the company's Brazil business. Gill says Brazil market is benefiting from rising smartphone shipments and selling prices along with a positive regulation environment, noting that the regulatory scope of local data content could increase to 80% from 60%. The analyst keeps his Strong Buy rating on Smart Global.
03/23/18
STFL
03/23/18
NO CHANGE
Target $56
STFL
Buy
Smart Global price target raised to $56 from $47 at Stifel
Stifel analyst Kevin Cassidy raised his price target on Smart Global to $56 from $47 following the company's fourth consecutive beat and raise report since their IPO last year. In a research note to investors, Cassidy called Smart Global his "top long idea," adding that the combination of market tailwinds, including stable memory market prices and the expanding Brazilian economy, and management's strategy as continuing the growth in calendar 2018. Cassidy has a Buy rating on shares.
03/23/18
DBAB
03/23/18
NO CHANGE
Target $56
DBAB
Buy
Smart Global price target raised to $56 from $48 at Deutsche Bank
Deutsche Bank analyst Sidney Ho raised his price target for Smart Global Holdings to $56 following the company's better than expected results. A favorable supply-demand environment in the memory market is further amplified by a strengthening economy in Brazil, which drove "significant upside" to the print and guidance, Ho tells investors in a post-earnings research note. He finds the stock's risk/reward attractive despite the 30% rally in the shares year-to-date. The analyst keeps a Buy rating on the name.
WDC Western Digital
$81.11

2.32 (2.94%)

05/14/18
05/14/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. General Electric (GE) initiated with a Buy at Gabelli. 2. Western Digital (WDC) initiated with an Overweight at JPMorgan. 3. GrafTech (EAF) initiated with an Overweight at JPMorgan and an Outperform at RBC Capital. 4. Surface Oncology (SURF) initiated with an Outperform at Evercore ISI and Cowen as well as a Neutral at Goldman Sachs. 5. BeiGene (BGNE) initiated with an Outperform at Credit Suisse. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
05/14/18
JPMS
05/14/18
INITIATION
Target $120
JPMS
Overweight
Western Digital initiated with an Overweight at JPMorgan
JPMorgan analyst Harlan Sur initiated Western Digital with an Overweight rating and $120 price target, citing its market leadership in storage solutions and its strong technology IP portfolio.
04/27/18
BMOC
04/27/18
NO CHANGE
Target $90
BMOC
Market Perform
Western Digital price target raised to $90 from $84 at BMO Capital
BMO Capital analyst Tim Long raised his price target on Western Digital to $90 after the company's Q3 earnings beat, saying "better Enterprise sales helped offset weaker flash" segment performance. Long adds that the tone for Q4 was also positive, though most of the EPS upside is "coming from lower interest expense". The analyst keeps his Market Perform rating on Western Digital, with continued expectations of HDD headwinds and slowing flash memory growth weighing on FY18 revenues followed by further margin erosion in FY19.

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WYN

Wyndham

$107.98

-0.58 (-0.53%)

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PCG

PG&E

$44.67

0.84 (1.92%)

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FARM

Farmer Bros.

$28.50

0.15 (0.53%)

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NDLS

Noodles & Company

$8.90

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WIN

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EPD

Enterprise Products

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INO

Inovio

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VTL

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LNC

Lincoln National

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DGLY

Digital Ally

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SNGX

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HF

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VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

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