Nomura on Micron technology; Increases Pt from $30 to $40

In a research note released Thursday, Nomura analyst Sidney Ho increased her Price Target on Micron Technology

from $30.0 to $40.0, shares of MU are also currently rated a Buy. Micron has performed very well year-to-date. Most of the move in the stock price came from guidance revisions. Ho, “The stock deserves multiple expansion, in our view, as the business is less cyclical and generates significant free cash flow.” The analyst continued by stating that they had a change in the calendar-year 2014 EPS estimates from $3.05 to $3.30 and a change in calendar-year 2015 estimates from $3.20 to $3.60 As noted above shares have been on the move this year and are up 42 percent year-to-date and are at its 52-week high. Shares are approximately neutral for today.