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Fly News Breaks for February 12, 2020
Feb 12, 2020 | 05:51 EDT
UBS analyst Timothy Arcuri upgraded Micron Technology (MU) to Buy from Neutral with a price target of $75, up from $47. The shares closed Tuesday down 8c to $57.25. After "only modestly" outperforming the S&P 500 Index over the past two years, the time has "finally come" when Micron can materially outperform over a sustained period of time, Arcuri tells investors in a research note. The analyst believes the company is in a much stronger position in a structurally better industry on the cusp of a cyclical upswing that, for DRAM, should last well into 2021. Further, Micron deserves a higher multiple given its improving competitive position and through-cycle financial performance that is comparable to or even better than other major semis peers with integrated manufacturing models like Intel (INTC) or Texas Instruments (TXN), contends Arcuri. For DRAM, he sees a two year runway for under-supply, and for NAND, he sees modestly under-supplied setup in the first half of 2020.
News For MU;INTC;TXN From the Last 2 Days
Apr 8, 2020 | 06:37 EDT
Intel is set to introduce its 10th-generation Comet Lake-S desktop processors and 400 series chipsets at the end of April, DigiTimes' Monica Chen and Joseph Tsai report, citing sources at motherboard makers, who expect improvements in Q2 sales. Reference Link