💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Micron -1.4% as Goldman goes Neutral on DRAM concerns

Published 05/08/2017, 10:54 AM
© Reuters.  Micron -1.4% as Goldman goes Neutral on DRAM concerns
GS
-
MU
-
  • Micron Technology (NASDAQ:MU) is 1.4% lower after Goldman Sachs (NYSE:GS) goes to Neutral, concerned about DRAM pricing and a recent heavy bump in analyst estimates for the company's earnings in the next two years.
  • Analyst Mark Delaney says talking with channel companies points to slowing price momentum in the DRAM market, which he notes is heading for the fifth quarter of margin expansion in an area where upturns have typically lasted between four and nine quarters.
  • He's trimmed his price target to $30 from $32, implying just 7.9% upside from today's price.
  • Now read: Micron Is Trading Near Its 52-Week High: What You Should Know


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.