UPDATE: Wedbush Reiterates Micron Technology at Outperform Post FQ4 Results
Wedbush maintained its Outperform rating and $8 price target on Micron Technology (NASDAQ: MU) as the fourth quarter miss was not seen as bad as previously feared.
Wedbush said, "We think with all the near-term bad news now out on the table for DRAM, favorable seasonal trends for NAND, and a better supply/demand environment ahead for DRAM driven by industry supply cuts and consolidation that a potential pull back in the stock today would likely be the last leg down. We view risk/reward on MU as compelling and recommend investors with a long-term horizon take advantage of any weakness to buy shares."
Micron Technology closed at $6.01 on Thursday.
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