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Fly News Breaks for March 2, 2020
Mar 2, 2020 | 06:15 EDT
Baird analyst Tristan Gerra upgraded Micron (MU) to Neutral from Underperform with a price target of $55 from $45 and also upgraded Western Digital (WDC) and Seagate (STX) to Outperform from Underperform and Neutral respectively. Western Digital price target goes to $75 from $60 and Seagate price target goes to $60 from $54. The analyst notes that the positive outlook for pricing in DRAM/NAND flash memory remains unchanged in spite of the current demand weakness in China with supply chain holding on to inventories against the risk of disruptions. Gerra believes that pricing will remain very resilient in 2020 and server demand is also strong, adding that the double-upgrade for Seagate is driven by expected market share gains and gross margin expansion in the 2nd half of the year.
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