Morgan Stanley Reiterates Overweight on Micron Technology, Reduces PT to $12

Morgan Stanley reiterated its Overweight rating on Micron Technology (NASDAQ: MU). At the same time, however, Morgan Stanley reduced its price target on the company's stock from $13 to $12. On Thursday, Micron finished the day at $8.43. Its shares tumbled 8.42% in today's pre-market trading, however, to stand around $7.72.