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MU

Micron

$34.12

0.23 (0.68%)

07:32
12/19/18
12/19
07:32
12/19/18
07:32

Micron price target lowered to $32 from $38 at BMO Capital

BMO Capital analyst Ambrish Srivastava lowered his price target on Micron to $32 and kept his Market Perform rating after its disappointing Q2 outlook, saying he "bristles" at the management's characterization of the memory downturn as an "air pocket". Instead, the analyst contends that the downturn appears to be "broad" given the company's reduced expectations of bit demand growth in DRAM and NAND, ranging "from mobile to data center to enterprise." Based on its worse than anticipated supply/demand imbalance, Srivastava also slashes his FY19 EPS view on Micron to $7.64 from $10.22 and for FY20 to $6.01 from $9.23, adding that the industry looks to be "well past the peak in the memory cycle."

  • 08

    Jan

MU Micron
$34.12

0.23 (0.68%)

12/19/18
DBAB
12/19/18
NO CHANGE
Target $48
DBAB
Buy
Micron remains attractive investment over 12-month period, says Deutsche Bank
Deutsche Bank analyst Sidney Ho lowered his price target for Micron Technology to $48 from $60 saying the company's guidance for fiscal Q2 is "quite a bit worse" than he expected. Headwinds from oversupply look to continue through the first half of 2019, Ho tells investors in a post-earnings research note. The analyst, however, is encouraged that Micron is "reacting quickly" by reducing capital spending and planned bit shipment output. This, along with capex push-outs by other memory suppliers, should set up for a recovery starting in mid-2019, Ho contends. He believes Micron "is an attractive investment over a 12-month period" and keeps a Buy rating on the shares.
12/19/18
MKMP
12/19/18
NO CHANGE
Target $44
MKMP
Buy
Micron price target lowered to $44 from $50 at MKM Partners
MKM Partners analyst Ruben Roy lowered his price target on Micron to $44 after its Q1 results last night, saying that while its earnings were in line with recent guidance, the outlook for Q2 was "much lower". The analyst further notes the company's "proactive" reduction in anticipated FY19 capital expenditures to $9.0B-$9.5B from prior forecast of $10.5B to reflect the near term headwinds and the reduction in its forecast for the industry DRAM bit demand growth to 16% from 20%. While Roy maintains his Buy rating on Micron shares longer term, he expects the stock to trade in a narrow range until visibility on its inventory situation improves.
12/19/18
WELS
12/19/18
NO CHANGE
Target $50
WELS
Outperform
Micron price target lowered to $50 from $63 at Wells Fargo
Wells Fargo analyst Aaron Rakers lowered his price target for Micron to $50 from $63, while reiterating an Outperform rating on the shares. The analyst notes that Micron's Q2 guide and outlook commentary pointing to persisting/multi-quarter DRAM and NAND Flash demand headwinds are clearly negative. However, he thinks Micron's reduced capex/capacity guide, technology execution, his expectation of sustained positive free cash flow, Micron's aggressive share repo activity, and a valuation nearing a bottoming 1-time price/book level should entice a more active risk/reward dialogue.
12/19/18
LEHM
12/19/18
NO CHANGE
Target $46
LEHM
Overweight
Micron shares will take a little longer to work, says Barclays
Barclays analyst Blayne Curtis says Micron Technology last night posted results roughly in line with the November negative pre-announce but guided well below expectations due to elevated inventory levels across the Cloud, Graphics, and Enterprise markets. The market has been expecting a reset for some time and this goes a long way to delivering the trough people want, Curtis tells investors in a post-earnings research note. However, he believes all investors won't be convinced this is the bottom in the memory market and that the stock will take a little longer to work. The analyst lowered his price target for Micron shares to $46 from $50 and keeps an Overweight rating on the name.

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