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MU

Micron

$36.01

0.11 (0.31%)

08:18
01/14/19
01/14
08:18
01/14/19
08:18

Morgan Stanley says 'too early to get excited' about Micron

Morgan Stanley analyst Joseph Moore said he is hearing "too much fundamental optimism" in his investor conversations around the near-term for Micron, but he believes it is "too early to get excited." There are reasons to be positive on the stock longer term, but producer inventory will be hitting 18 year highs by March, adding materially to 2019 supply, Moore tells investors. The bull case, according to Moore, is that Q4 weakness was due to undershipping demand around customer inventory depletion, but surprisingly his checks show that the industry actually may have overshipped, he noted. Moore, who trimmed his estimates for Micron, has an Equal Weight rating and $33 price target on the stock.

  • 28

    May

MU Micron
$36.01

0.11 (0.31%)

01/07/19
01/07/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. General Motors (GM) upgraded to Outperform from Market Perform at BMO Capital with analyst Richard Carlson citing a "brighter spotlight" being placed on the GM Cruise model in 2019 leading to more appropriate value being priced into the shares. 2. Alphabet (GOOG, GOOGL), Adobe (ADBE), and Salesforce (CRM) were upgraded to Buy from Hold at Pivotal Research. 3. Citi (C) upgraded to Outperform from Neutral at Macquarie with analyst David Konrad saying despite macro uncertainties, he sees Citi's stock as compelling due to his expectations for improving performance, continued operating leverage and credit risk concerns that he views as overdone. 4. Micron (MU) upgraded to Outperform from Market Perform at BMO Capital with analyst Ambrish Srivastava citing valuation. 5. Dillard's (DDS) upgraded to Neutral from Underweight at JPMorgan with analyst Matthew Boss saying he sees a more balanced risk/reward with the stock underperforming the over the past few years. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/08/19
NEED
01/08/19
NO CHANGE
NEED
Hold
Needham stays Hold on Micron, says Samsung confirmed weakening outlook
Needham analyst Rajvindra Gill keeps a Hold rating on Micron Technology (MU) after Samsung (SSNLF) lowered its preliminary outlook for Q4. Similar to Micron, Samsung cited excess inventory at its hyperscaler customers and weaker than expected demand in smartphones, Gill tells investors in a research note. Samsung also reiterated a similar view of Micron's that it expects a second half of 2019 rebound driven by new central processing unit architectures and launches of new smartphones, adds the analyst. Gill, however, believes visibility into the second half of 2019 remains limited. Based on industry conversations, he thinks excess inventory at hypersacalers will persist for at least another 3-6 months. Further, the slowing Chinese economy makes him cautious on overall demand conditions in the first half of the year. As such, Gill says that while Micron is trading at historical low valuation multiples, the stock has further downside if demand conditions worsen. Shares of Micron are down 3%, or $1.11, to $32.89 in morning trading.
01/09/19
BERN
01/09/19
UPGRADE
BERN
Outperform
Micron upgraded to Outperform from Market Perform at Bernstein
01/09/19
01/09/19
UPGRADE
Target $52

Outperform
Micron upgraded to Outperform at Bernstein on attractive risk/reward
As previously reported, Bernstein analyst Mark Newman upgraded Micron to Outperform from Market Perform saying that although he still sees up to 20% potential further downside in the worst scenario, the risk/reward is now too attractive to ignore. The analyst also lowered his price target on the shares to $52 from $60.

TODAY'S FREE FLY STORIES

C

Citi

$62.10

-0.08 (-0.13%)

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LION

Fidelity Southern

$28.41

-0.16 (-0.56%)

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BMY

Bristol-Myers

$49.50

0.37 (0.75%)

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Bristol Myers Squibb call volume above normal and directionally bullish »

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General news
Treasury's $13 B 10-year TIPS preview: the auction may suffer »

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FOSL

Fossil

$17.50

0.09 (0.52%)

, GOOG

Alphabet

$1,080.85

0.63 (0.06%)

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FOSL

Fossil

$17.50

0.09 (0.52%)

GOOG

Alphabet

$1,080.85

0.63 (0.06%)

GOOGL

Alphabet Class A

$1,090.00

1.17 (0.11%)

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RTN

Raytheon

$161.77

2.4 (1.51%)

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GOOG

Alphabet

$1,079.92

-0.3 (-0.03%)

, FOSL

Fossil

$17.50

0.09 (0.52%)

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Fossil to sell select smartwatch technology to Google for $40M »

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GOOG

Alphabet

$1,079.92

-0.3 (-0.03%)

FOSL

Fossil

$17.50

0.09 (0.52%)

GOOGL

Alphabet Class A

$1,089.70

0.87 (0.08%)

03/08/13
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    Mar

JPM

JPMorgan

$102.54

0.06 (0.06%)

12:30
01/17/19
01/17
12:30
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12:30
Options
Call butterfly in JP Morgan is similar to one in Wells Fargo »

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  • 26

    Feb

PHG

Philips

$35.40

(0.00%)

12:29
01/17/19
01/17
12:29
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12:29
Periodicals
Philips to shutter U.K. factory as Brexit concerns intensify, Bloomberg says »

Royal Philips intends to…

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LMFA

LM Funding

$2.19

0.765 (53.87%)

12:27
01/17/19
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LM Funding spikes 53% after completing IIU acquisition, sees accretion in 2019 »

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NWSA

News Corp.

$12.42

0.03 (0.24%)

12:25
01/17/19
01/17
12:25
01/17/19
12:25
Upgrade
News Corp. rating change  »

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FDC

First Data

$22.17

0.9 (4.23%)

12:25
01/17/19
01/17
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12:25
Options
First Data call volume above normal and directionally bullish »

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  • 03

    Mar

BLK

BlackRock

$410.20

-2.65 (-0.64%)

12:25
01/17/19
01/17
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12:25
Periodicals
BlackRock CEO calls on business leaders to tackle social issues, FT says »

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MS

Morgan Stanley

$42.66

-1.82 (-4.09%)

, AAPL

Apple

$154.13

-0.75 (-0.48%)

12:22
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On The Fly
Fly Intel: Wall Street's top stories at midday »

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MS

Morgan Stanley

$42.66

-1.82 (-4.09%)

AAPL

Apple

$154.13

-0.75 (-0.48%)

JNJ

Johnson & Johnson

$128.65

0.65 (0.51%)

SHLD

Sears

$0.00

(0.00%)

SBNY

Signature Bank

$120.40

7.98 (7.10%)

MTB

M&T Bank

$161.77

7.32 (4.74%)

SIG

Signet Jewelers

$25.63

-7.745 (-23.21%)

WDC

Western Digital

$35.97

-1.83 (-4.84%)

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LPCN

Lipocine

$2.24

0.65 (40.88%)

12:17
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01/17
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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
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Technical Analysis
NASDAQ market internals summary »

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LMB

Limbach Holding

$5.00

(0.00%)

12:16
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$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
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Technical Analysis
NYSE market internals summary »

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LPCN

Lipocine

$2.27

0.68 (42.77%)

12:12
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Periodicals
Lipocine NASH data contain plenty of 'red flags,' STAT's Feuerstein writes »

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CVE

Cenovus Energy

$7.79

-0.19 (-2.38%)

12:10
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Options
Second day of call buying in Cenovus Energy continues as shares slump »

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SQ

Square

$68.79

2.9 (4.40%)

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ALBO

Albireo Pharma

$24.54

0.08 (0.33%)

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GPOR

Gulfport Energy

$8.67

-0.23 (-2.58%)

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UNFI

United Natural Foods

$13.09

-2.32 (-15.06%)

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ESTE

Earthstone Energy

$5.28

-1.49 (-22.01%)

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Earthstone Energy falls -21.9% »

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