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MU

Micron

$44.00

1.55 (3.65%)

06:09
04/04/19
04/04
06:09
04/04/19
06:09

Micron downgraded to Underweight from Equal Weight at Morgan Stanley

MU Micron
$44.00

1.55 (3.65%)

03/21/19
03/21/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Biogen (BIIB) downgraded to Market Perform from Outperform at Wells Fargo after the company reported the failure of two phase 3 trials for a potential treatment of Alzheimer's disease. 2. Magna (MGA) downgraded to Market Perform from Outperform at BMO Capital with analyst Peter Sklar noting BMW's (BMWYY) lowered 2019 earnings guidance on numerous headwinds reflects how difficult it is for auto manufacturers to grow earnings during a period of flat to declining vehicle production volumes. 3. Munich Re (MURGY) downgraded to Hold from Buy at Jefferies with analyst Philip Kett saying he believes the recent rally leaves less room for valuation upside. 4. Nufarm (NFRMY) downgraded to Neutral from Overweight at JPMorgan with analyst Donald Carducci noting glyphosate is becoming a concern for Bayer (BAYRY) due to a recent U.S. case progressing to phase two. 5. Micron (MU) downgraded to Sell from Neutral at Citi with analyst Christopher Danely saying Micronis trying its best but "you can't swim against a tsunami". This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/27/19
GSCO
03/27/19
NO CHANGE
Target $49
GSCO
Buy
Western Digital price target raised to $49 from $42 at Goldman Sachs
Goldman Sachs analyst Mark Delany raised Western Digital's (WDC) price target to $49 from $42 saying a cut in Micron's (MU) NAND production should be a positive for the NAND business. Delany did not change is normalized earnings estimate of $7.00, but did raise his multiple to 7x from 6x and maintained a Neutral rating.
03/28/19
RBCM
03/28/19
INITIATION
Target $50
RBCM
Outperform
Micron assumed with an Outperform at RBC Capital
RBC analyst Mitch Steves assumed coverage of Micron with an Outperform rating and a price target of $50, saying that while the dynamics in memory demand remain "challenging", the space typically rallies on the "last cut". The analyst contends that investors have correctly assumed negative growth through the end of 2019, but expects more positive data points to emerge exiting Q4 of this year as "smartphones recover" and "data center trends ramp up", with increased memory content in both "soaking up excess supply".
04/01/19
KEYB
04/01/19
NO CHANGE
KEYB
DRAM monthly contract pricing declined sharply again in March, says KeyBanc
KeyBanc analyst Weston Twigg notes that inSpectrum released its March monthly memory contract pricing this morning, with price declines in line with expectations. The analyst anticipates DRAM price declines to continue through the second half of 2019, though the rate of decline will likely decelerate. Twigg also anticipates NAND bit supply growth to drop below 30% on a year over year basis in the second half of the year due to scaling inefficiencies and limited capacity expansion. Despite near-term demand headwinds in both DRAM and NAND, he continues to anticipate meaningful long-term demand growth as new demand drivers, such as 5G, hyperscale, and edge/endpoint devices, continue to expand. Further, the analyst views the DRAM market as likely healthier and more profitable than NAND over the long run given just three main producers - Micron (MU), Samsung (SSNLF), and SK Hynix -, strong long-term demand drivers, and rational capacity expansion. However, NAND pricing could stabilize sooner than DRAM, and NAND shortages may emerge as early as Q3, he adds.

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CURO

Curo Group

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AON

Aon plc

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ISRG

Intuitive Surgical

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UBER

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FIX

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NSANY

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FE

FirstEnergy

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TSLA

Tesla

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EXPO

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PFE

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FIVE

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LBRT

Liberty Oilfield Services

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VNO

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CHKP

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UNP

Union Pacific

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SO

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TSLA

Tesla

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GLD

SPDR Gold Shares

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OSW

OneSpaWorld

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SCHW

Charles Schwab

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OSW

OneSpaWorld

$13.77

(0.00%)

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SHLD

Sears

$0.00

(0.00%)

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