Lazard Maintains Buy on Micron Technology

Lazard is out with its report today on Micron Technology MU, maintaining Buy. In its report, Lazard writes, "Results last night reflect our thesis that the stock is largely range bound in the near term, with significant upside potential once we see demand return to the DRAM mkt. While pricing started to improve, demand for PC and consumer remains weak. The bright spot remains NAND, which is seeing stable demand with IMFS continuing to ramp." Lazard maintains a $10 PT on MU. At the time of posting, shares of MU were trading pre-market at $5.40, down 8.01% from Thursday's close.