|Micron analyst commentary at Barclays Micron has more room to run after 'strong' quarter, says Barclays. Barclays analyst Blayne Curtis sees more room to run for shares of Micron Technology following last night's "strong" beat and raise quarter. Both NAND and DRAM trends continue to look positive into 2018, and the beat silences concerns over memory, Curtis tells investors in a post-earnings research note. Micron continues to be one of his favorite ideas with an Overweight rating and $60 price target.|
Deutsche Bank analyst Sidney Ho raised his price target for Micron Technology to $60 citing last night's "strong" quarter and guidance. The stock in premarket trading is up 6%, or $2.66, to 446.64. The DRAM strength was mostly anticipated, but what impressed most was the company's NAND business, which showed a 900 basis point improvement in gross margin, Ho tells investors in a post-earnings research note. He expects Micron's favorable market conditions to continue and maintains a Buy rating on the shares.
Micron analyst commentary at Citi Micron price target raised to $55 from $51 at Citi. Citi analyst Christopher Danely raised his price target for Micron Technology to $55 saying the company last night reported results and guidance well above consensus and due to a strong DRAM market. The analyst notes Micron has the highest margins in the Semiconductor space and he reiterates a Buy rating on the shares.
Micron analyst commentary at JPMorgan Micron price target raised to $60 from $55 at JPMorgan. JPMorgan analyst Harlan Sur raised his price target for Micron Technology to $60 saying the company's demand drivers remain solid following last night's beat and raise quarter. The analyst sees no imminent signs of oversupply and keeps an Overweight rating on the shares.
Micron analyst commentary at Loop Capital Micron price target raised to $56 from $48 at Loop Capital. Loop Capital analyst Betsy Van Hees raised her price target for Micron Technology to $56 saying last night's better than expected guidance bucked typical seasonality trends. The analyst continues to expect a "soft landing" in 2018 for memory supply/demand and she keeps a Buy rating on Micron shares.
Western Digital, Bought by WDC analyst commentary at Loop Capital Western Digital multiple to expand to at least 8x in 2018, says Loop Capital. Loop Capital analyst Ananda Baruah keeps his Buy rating and $140 price target on Western Digital, noting that the stock price could reach as high as $210 if investors are prepared to pay 10-15-times EPS as NAND memory chip prices start to normalize in 2018. Baruah contends that the current 6-times forward earnings valuation is attractive, citing price trends of how both HDD businesses of Western Digital and SanDisk traded under similar circumstance in the past.