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Post-earnings Gains In Micron Prompt A Vetr Downgrade

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The Vetr crowd on Thursday downgraded its rating on Micron Technology, Inc. (NASDAQ: MU) from the stock's prior standing at 5 stars (Strong Buy), issued a week ago, to 4 stars (Buy). Crowd sentiment at the time of the downgrade was edging positive, with 51 percent of Vetr user ratings bullish.

Share price in Micron remains on the uptrend after delivering a solid Q4 earnings report on Tuesday. The report showed the company beating analyst revenue estimates by nearly $200 million and surpassing an EPS estimate of $1.38 with an actual per share gain of $2.02.

Micron's stock is up about 12.5 percent since reporting. It was trading just above $38 at 1:30 p.m. ET on the day of the downgrade.

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Currently, the Vetr crowd's average price target on Micron is up at $40.70, well above the average analyst price target of $31.39. Micron Technology, Inc. is a popular stock on Vetr as more than 2 percent of users are holding $MU in their watch-lists.

Latest Ratings for MU

DateFirmActionFromTo
Jun 2018UBSUpgradesSellNeutral
Jun 2018BenchmarkInitiates Coverage OnBuy
Jun 2018JP MorganMaintainsOverweightOverweight

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Posted-In: Micron Technology VetrDowngrades Crowdsourcing Markets Analyst Ratings General

 

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