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Fly News Breaks for December 19, 2019
MU
Dec 19, 2019 | 08:40 EDT
Deutsche Bank analyst Sidney Ho raised his price target for Micron Technology to $65 from $55 and maintains a Buy rating on the shares following last night's fiscal Q1 results. Trends in both DRAM and NAND are improving and management commentary supports a second half of 2020 recovery in DRAM, the most important question for the memory business going into the new year, Ho tells investors in a research note. He believes a valuation multiple modestly above its historical book value is appropriate with Micron approaching a cyclical upturn.
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