Market Overview

UPDATE: Stifel Nicolaus Lowers PT on Micron Technology to $11

Stifel Nicolaus is out with its report today on Micron Technology (NASDAQ: MU), lowering its PT from $17 to $11.

In a note to clients, Stifel Nicolaus writes, "We are reducing our MU 12-month price target to $11 from $17 based on the same 11x our revised FY12 EPS of $1.00. We believe 11x forward earnings is reasonable considering our expectations for 12% y/y top line growth and estimates for increasing profitability y/y."

At the time of posting, shares of MU were trading pre-market at $7.63, down 9.49% from Thursday's close.

Posted-In: Micron Technology Stifel NicolausAnalyst Color Price Target Analyst Ratings

 

Most Popular

Related Articles (MU)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters