In a report published Friday, Jefferies & Company reiterated its Buy rating on Micron Technology MU, but slightly lowered its price target from $11.00 to $10.00.
Jefferies noted, “CQ3 results missed Street expectations, and we lowered our estimates, but we like the risk/reward on MU for 3 reasons: 1) NAND ASPs are increasing, and MU is growing SSD revs, 2) PC-driven DRAM weakness is baked in but potential Ultrabook+Win8-driven sentiment inflection is not, and 3) we expect Elpida deal closing to be viewed positively. At EV/S of ~0.8x, we see low downside risk. Reit. Buy with $10 PT.”
Micron Technology closed on Thursday at $6.02.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in