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.

Get Started

Start Futures Trading Fast — with a $200 Bonus

Join Plus500 today and get up to $200 to start trading real futures. Practice with free paper trading, then jump into live markets with lightning-fast execution, low commissions, and full regulatory protection.

Get Started

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