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MU

Micron

$37.05

4.34 (13.27%)

, INTC

Intel

$48.19

1.33 (2.84%)

07:32
06/27/19
06/27
07:32
06/27/19
07:32

Wedbush cautious on Micron, initiates with a Neutral

As previously reported, Wedbush analyst Mathew Bryson initiated Micron (MU) with a Neutral and $30 price target. The analyst notes that Micron has suffered and continues to suffer from the downturn in memory fundamentals. Bryson remains less positive about 2019 second half fundamentals and to some extent Micron's execution as focus shifts from clear improvements in NAND chip production on the 32 layer and 64 layer nodes toward questions around Micron's ability to execute on charge trap without Intel (INTC), while at the same time needing to build scale in this market to compete effectively with its much larger peers. Net, he is not yet convinced the memory markets have bottomed.

MU

Micron

$37.05

4.34 (13.27%)

INTC

Intel

$48.19

1.33 (2.84%)

  • 09

    Jul

  • 25

    Jul

MU Micron
$37.05

4.34 (13.27%)

06/26/19
JPMS
06/26/19
NO CHANGE
Target $50
JPMS
Overweight
Micron guidance likely better than many investors expected, says JPMorgan
JPMorgan analyst Harlan Sur noted that Micron reported better than expected Q3 results and while the company's August quarter guidance was below consensus, he thinks it was likely better than many investors had expected. Micron said it is poised to return to solid bit shipment growth in DRAM as demand in cloud, PC, gaming and networking have depleted excess customer inventories, said Sur, who also noted that the company said it is continuing to ship a subset of products to Huawei. The analyst thinks technology migrations and manufacturing ramps in DRAM and NAND, combined with a focus on higher value-add products, should be tailwinds to gross margins into next year. He keeps an Overweight rating on Micron with a $50 price target.
06/26/19
06/26/19
UPGRADE
Target $54

Buy
Western Digital upgraded to Buy on Micron's NAND commentary at Craig-Hallum
As previously reported, Craig-Hallum analyst Christian Schwab upgraded Western Digital (WDC) to Buy from Hold following Micron's (MU) positive commentary and announced steps targeting supply growth discipline. The analyst notes that on Micron's earnings call, the company stated it is beginning to see signs of improvement with the NAND industry benefiting from price elasticity kicking in. Schwab also raised his price target on Western Digital's shares to $54 from $49.
06/26/19
06/26/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. ConocoPhillips (COP) upgraded to Buy from Neutral at Mizuho with analyst Paul Sankey saying he sees the company being among the best-positioned for the "new E&P model" after having taken major steps to improve unit cash margins via divestitures and liquids-led unconventional growth while reducing fixed cost burdens by undertaking major debt reduction and share buybacks. 2. Micron (MU) upgraded to Buy from Hold at Needham with analyst Rajvindra Gill saying that with an improved DRAM outlook for the second half of 2019, significant CapEx cuts coming in fiscal 2020, and a stabilizing book value per share of $31.89, he believes believe there is limited downside risk over the next 6-12 months. 3. AbbVie (ABBV) upgraded to Outperform from Market Perform at SVB Leerink with analyst Geoffrey Porges citing the "surprise" Allergan (AGN) acquisition announcement, and the stock's 16%-plus selloff intraday. 4. Upwork (UPWK) upgraded to Buy from Hold at Jefferies with analyst Brent Thill citing the stock's 17% year-to-date decline, which he believes has improved the risk/reward balance for the stock. 5. Western Digital (WDC) upgraded to Buy from Hold at Craig-Hallum with analyst Christian Schwab citing Micron's (MU) positive commentary and announced steps targeting supply growth discipline. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/26/19
WEDB
06/26/19
INITIATION
Target $30
WEDB
Neutral
Micron initiated with a Neutral at Wedbush
Wedbush analyst Mathew Bryson initiated Micron with a Neutral and $30 price target.
INTC Intel
$48.19

1.33 (2.84%)

06/10/19
MSCO
06/10/19
NO CHANGE
MSCO
Morgan Stanley cuts estimates for Intel, others with Huawei exposure
Morgan Stanley analyst Joseph Moore lowered his estimates and cut his price target for Intel (INTC) and four other chipmakers that supply Huawei as he thinks it is becoming clear the situation involving the U.S. and the Chinese company will extend "at least beyond quarter end." Moore lowered his price target on Intel shares to $61 from $63, cut his target for Xilinx (XLNX) to $126 from $137, trimmed his target for Maxim Integrated (MXIM) to $50 from $51, edged down his Western Digital (WDC) target to $46 from $47 and lowered his Amphenol (APH) target to $108 from $110.
06/20/19
06/20/19
INITIATION

Buy
Entegris initiated with a Buy at CL King
As previously reported, CL King analyst David Silver started Entegris (ENTG) with a Buy rating and $44 price target. The analyst believes the company is set to benefit from the increased importance of specialized materials and products as they become more important to next-generation semiconductor advances. Silver added that while the Entegris' growth has moderated in recent quarters, it should re-accelerate as a result of new production and ramp-ups by Intel (INTC), Taiwan Semiconductor (TSM), and others.
06/26/19
WEDB
06/26/19
INITIATION
Target $37.5
WEDB
Underperform
Intel initiated with an Underperform at Wedbush
Wedbush analyst Mathew Bryson initiated Intel with an Underperform and $37.50 price target.
06/27/19
06/27/19
INITIATION
Target $35

Outperform
Wedbush bullish on AMD, initiates with an Outperform
As previously reported, Wedbush analyst Matthew Bryson initiated AMD (AMD) with an Outperform rating and $35 price target. The analyst views AMD's reemergence in CPUs as one of the likely major shifts in both the PC and data center markets over the next few years. Specifically, Bryson believes AMD's early adoption of a distributed "chiplet" architecture combined with a shift to leading edge geometries positions the company to take meaningful share from Intel (INTC) in both the PC and server markets over the next few years. Moreover, he expects AMD will also realize some more modest benefits on the GPU side, with its GPU business also poised to benefit from a resumption of more normalized channel sales, sales into Google (GOOG) Stadia, console transitions, and a recently signed agreement with Samsung (SSNLF) to share and license IP.

TODAY'S FREE FLY STORIES

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USB

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-0.2 (-0.36%)

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SBNY

Signature Bank

$123.87

1.07 (0.87%)

KEY

KeyCorp

$17.45

0.15 (0.87%)

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CMG

Chipotle

$746.80

-17.43 (-2.28%)

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BYND

Beyond Meat

$176.65

6.28 (3.69%)

07:40
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  • 29

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NFLX

Netflix

$315.10

-10.04 (-3.09%)

07:37
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  • 03

    Aug

AMZN

Amazon.com

$1,964.78

-13.57 (-0.69%)

, TGT

Target

$88.02

-0.48 (-0.54%)

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TGT

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$88.02

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AMZN

Amazon.com

$1,964.78

-13.57 (-0.69%)

, FDX

FedEx

$167.08

1.69 (1.02%)

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AMZN

Amazon.com

$1,964.78

-13.57 (-0.69%)

FDX

FedEx

$167.08

1.69 (1.02%)

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AMZN

Amazon.com

$1,964.78

-13.57 (-0.69%)

, MSFT

Microsoft

$136.62

0.33 (0.24%)

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MSFT

Microsoft

$136.62

0.33 (0.24%)

ORCL

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AZN

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BMY

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LLY

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GSK

GlaxoSmithKline

$40.97

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JNJ

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MRK

Merck

$81.39

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NVS

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PFE

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RHHBY

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SNY

Sanofi

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BHVN

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  • 09

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CE

Celanese

$107.01

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  • 23

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F

Ford

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RTN

Raytheon

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2.45 (1.39%)

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  • 25

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UTX

United Technologies

$132.37

1.08 (0.82%)

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  • 23

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LMT

Lockheed Martin

$356.90

0.675 (0.19%)

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  • 23

    Jul

ARES

Ares Management

$28.13

-0.305 (-1.07%)

17:33
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  • 31

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HAFC

Hanmi Financial

$21.68

-0.105 (-0.48%)

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  • 23

    Jul

PAYS

Paysign

$17.49

-0.48 (-2.67%)

17:32
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MEOH

Methanex

$43.19

0.83 (1.96%)

17:28
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  • 01

    Aug

17:17
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07/19
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Conference/Events
Credit Suisse biotech analysts to hold an analyst/industry conference call »

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Retail/Hardlines Analyst…

SHIP

Seanergy Marine

$0.64

-0.0425 (-6.25%)

17:05
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SONM

Sonim

$13.42

0.24 (1.82%)

16:41
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07/19
16:41
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16:41
Conference/Events
Sonim management to meet with Oppenheimer »

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KINS

Kingstone Companies

$8.81

0.09 (1.03%)

16:30
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16:30
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Kingstone names Barry Goldstein CEO »

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Options
Preliminary option volume of 22.6M today »

Preliminary option volume…

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