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In a report published Monday, Topeka Capital Markets analyst Suji De Silva initiated coverage on Micron Technology
MU with a Hold rating and $10.00 price target.
In the report, De Silva noted, “We are initiating coverage of Micron Technologies Inc. at Hold with a $10.00 price target. While MU has several positive trends unfolding, including growth in NAND solid-state drives, specialty server/networking memory and improving DRAM economics from the Elpida acquisition, we believe these factors are embedded in the 50% stock run-up year-to-date. At this time, we would wait for a stock pullback to provide a more favorable entry point.”
Micron Technology closed on Friday at $9.63.
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