UPDATE: Sterne Agee Lowers PT on Micron Technology to $10

Sterne Agee reiterates a Buy rating on Micron Technology

and lowers its price target from $11 to $10. Sterne Agee notes, “MU reported weaker EPS on a NAND drag as ASPs and retail were weaker. But the Company sees memory bottoming with pricing trends moderating in 2H. Supply chain has been more disciplined unlike past downturns.” Micron Technology closed at $6.12 on Wednesday.