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MU

Micron

$41.51

-1.12 (-2.63%)

06:55
08/12/19
08/12
06:55
08/12/19
06:55

Citi keeps Sell on Micron, but thinks stock could reach $60 longer term

After hosting investor meetings with management, Citi analyst Christopher Danely keeps a Sell rating on Micron Technology with a $30 price target. The analyst believes the DRAM downturn last into the first half of 2020. However, longer term, he thinks Micron's earnings per share can get back to the peak of $11.74 and the stock could reach $60-plus.

MU Micron
$41.51

-1.12 (-2.63%)

07/30/19
MSCO
07/30/19
UPGRADE
Target $48
MSCO
Equal Weight
Morgan Stanley upgrades Micron to Equal Weight on short-term DRAM improvement
Morgan Stanley analyst Joseph Moore upgraded Micron Technology to Equal Weight from Underweight and raised his price target for the shares to $48 from $31. The stock closed yesterday down 67c to $46.82. Global trade tensions and potential supply risks are driving shorter term inventory accumulation, says the analyst, who believes his Underweight rating is now "less actionable." Nonetheless, Moore still believes that the DRAM market remains "fundamentally oversupplied," and he remains negative longer term. While DRAM channel checks show some improvement, analysis still suggests we are oversupplied, Moore tells investors in a research note.
07/30/19
07/30/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Micron (MU) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Joseph Moore saying global trade tensions and potential supply risks are driving shorter term inventory accumulation and he believes his Underweight rating is now "less actionable." 2. On Deck Capital (ONDK) upgraded to Buy from Neutral at BTIG with analyst Giuliano Bologna saying the company's "soft" Q2 results is offset by the $50M share repurchase plan and desire to pursue a bank charter. 3. Pinnacle West (PNW) upgraded to Buy from Hold at Argus with analyst Gary Hovis saying the stock has underperformed over the past month with a 3% decline in spite of the company's "solid fundamentals, improved earnings visibility, and expanding rate base." 4. Mohawk (MHK) upgraded to Neutral from Underperform at Buckingham with analyst Megan McGrath citing her view that flooring industry risks have been more adequately priced into the shares following the 20% pullback in the stock since the company reported Q2 earnings after the close on Thursday. 5. Melco Resorts & Entertainment (MLCO) upgraded to Buy from Outperform at Daiwa with analyst Andrew Chung calling it the "Crown Prince of Macau." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/07/19
LYNX
08/07/19
NO CHANGE
LYNX
Lynx can see the Micron bull case on Japan-Korea tensions, 'but with caveats'
Lynx Equity Strategies analysts KC Rajkumar and Jahanara Nissar noted that Japan-Korea trade issues have been replaced by headlines of the new bout of U.S.-China trade tensions, but their recent checks in the field shows that the ongoing trade issues between Japan and Korea "show no signs of easing." Given the early signs of downstream players anticipating memory contract prices to turn up in 1-2 months, they said they can see the bull case for Micron, "but with caveats." While export restrictions on semiconductor raw materials can crimp memory output from dominant Korea suppliers, especially in DRAM, there is also the potential that if downstream producers lowered their output in anticipation of a sustained disruption that could depress demand for the semiconductor sector as a whole, Rajkumar and Nissar explain in their note to investors.
08/08/19
GSCO
08/08/19
NO CHANGE
GSCO
Memory summit reinforces Goldman view that NAND pricing set to improve
After attending the Flash Memory Summit on August 6 and 7, Goldman Sachs analyst Mark Delaney said his meetings and talks with industry participants reinforced his view that NAND pricing is already showing signs of improvement and increased his confidence that blended NAND pricing will be up sequentially in the fourth quarter. Meanwhile, he still thinks DRAM pricing is likely to fall in the near-term, but said the rate of Q4 decline could be "somewhat less severe" than he previously expected. Delaney has a Buy rating on Micron (MU), a Neutral rating on Western Digital (WDC) and a Buy rating on Lam Research (LRCX), which he believes is well-positioned to benefit from continued scaling in NAND.

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MLM

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RDS.A

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