These Analysts Boost Price Targets On Micron Technology After Q2 Results

Micron Technology, Inc. MU reported weaker-than-expected Q2 results.

Micron reported second-quarter revenue of $3.69 billion, down from $7.79 billion year-over-year and below consensus estimates of $3.72 billion. The company reported a quarterly loss of $1.91 per share, which missed estimates for a loss of 81 cents per share.

Micron shares gained 2.3% to $60.65 in today’s pre-market trading session.

These analysts made changes to their price targets on Micron following the release of results.

  • Needham raised the price target on Micron from $67 to $71. Needham analyst Rajvindra Gill maintained a Buy rating.
  • JP Morgan boosted the price target on Micron from $65 to $75. JP Morgan analyst Harlan Sur maintained an Overweight rating.
  • Susquehanna raised the price target on the stock from $65 to $90. Susquehanna analyst Mehdi Hosseini maintained Micron with a Positive rating. 
  • Rosenblatt analyst Hans Mosesmann, meanwhile, reiterated Micron Technology with a Buy and maintained a $100 price target.

Read More: Investor Fear Eases; US Stocks Settle Lower

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPrice TargetPre-Market OutlookMarketsAnalyst RatingsTrading IdeasPT Changes
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!