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Credit Suisse raises its Micron target to 16% upside

Published 03/20/2018, 03:06 PM
© Reuters.  Credit Suisse raises its Micron target to 16% upside
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  • Credit Suisse (SIX:CSGN) raises its Micron Technology (NASDAQ:MU) price target from $60 to $70, a 16% upside to yesterday’s close.
  • The firm reiterated an Outperform rating.
  • Analyst John Pitzer expects Q3 guidance to come in well above consensus and forecasts FY18 EPS of $10.75 (consensus: $10.36.)
  • Pitzer: “Our positive bias to Rev is driven by better memory ASPs, supported by recent contract pricing, and our positive bias to EPS driven by better cost downs, supported by an improving cost structure and better mix.”
  • Micron will report Q2 earnings on Thursday.
  • Micron shares are up 1.5% to $61.04.
  • Now read: Semis: It's Not Only Who You Wish To Play With, But How You Wish To Play The Game (Part II)


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