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$45.51 /

+0.85 (+1.90%)


Goldman Sachs more positive on memory stocks, upgrades Micron to Buy

Goldman Sachs analyst Mark Delaney upgraded Micron Technology to Buy from Neutral and raised his price target for the shares to $56 from $40. The chipmaker closed Friday up 85c to $45.52. The analyst is now more positive on global memory stocks as he believes that the excess inventory memory companies are carrying will be depleted faster than previous expectations, primarily in NAND flash. This is due to the Toshiba Memory Corporation fab outage that has disrupted a mid-single digit percent of annual industry production, Delaney tells investors in a research note. His most recent industry discussions suggest that NAND pricing could start to improve in Q3 of 2019. This should be better understood by the market post the Flash Memory Summit in early August, says Delaney.

MU Micron
$45.51 /

+0.85 (+1.90%)

07/21/19 Goldman Sachs
Micron upgraded to Buy from Neutral at Goldman Sachs
07/18/19 BofA
Micron price target raised to $60 from $45 at BofA/Merrill
07/18/19 Barclays
Micron price target raised to $50 from $40 at Barclays
07/16/19 RBC Capital
Micron may gain from Japan-Korea trade spat, says RBC Capital

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