Market Overview

UPDATE: Credit Suisse Raises PT on Micron Technology, Wuxi Output Unlikely to Impact Pricing


In a report published Thursday, Credit Suisse analyst John Pitzer increased the price target on Micron Technology Inc. (NASDAQ: MU) from $20 to $25.

Pitzer looked directly at the sustainability of current trends in his analysis as “EPS upside is no longer in question, the multiple investors are willing to pay still is.” Credit Suisse noted that the expected return of Wuxi output is unlikely to harshly impact pricing and “significant consolidation and Samsung's share position in handsets bodes well for supply; while multi-core 64-bit mobile processing, in-memory adoption in severs, and data growth in general bodes well for demand.” Pitzer estimated a fair value approaching 10x their earning potential, and thus, raised the PT.

Credit Suisse reiterated an Outperform rating. The analyst estimated a F4Q13 revenue of $2.87B versus consensus of $2.86B and EPS at $0.21 versus consensus of $0.26.

Micron Technology closed at $17.67 on Wednesday.

Posted-In: Credit Suisse John PitzerAnalyst Color Price Target Analyst Ratings


Related Articles (MU)

View Comments and Join the Discussion!

Latest Ratings

PNRJefferiesInitiates Coverage On
IPHIBank of AmericaMaintains80.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

UPDATE: Lazard Capital Markets Raises PT on Canadian Solar on Bright Future

Will Apple Release A Cheaper Smartphone Than iPhone 5C?