Analysts See 46% – 49% Upside In Micron But Are Cautious - Read Why - Micron Technology (NASDAQ:MU)

Keybanc analyst John Vinh reiterated Micron Technology Inc MU with an Overweight and lowered the price target from $120 to $110, indicating a 48.6% upside.
Goldman Sachs analyst Toshiya Hari expects Micron's Q4 revenue and EPS to "land within the company's guided range."
However, Hari also notes that recent industry conversations point to a potential downside to his published estimates for Q1 due to soft pricing in DRAM and, to a lesser extent, in NAND.
Near-term weakness, particularly in the PC end market, combined with the company's possible decision to re-build inventory and its "tendency to guide conservatively," could lead to a "muted" outlook for Q1, warns Hari.
He maintained a Buy rating and $108 price target, implying a 46% upside.
Price Action: MU shares traded lower by 1% at $73.3 in the premarket session on the last check Friday.