1 year ago
Micron: Two Important Strategic Things Investors Are Missing, Per Morgan Stanley
[at Barrons.com] - Shares DRAM and NAND flash memory-chip maker Micron Technology (MU) today close down 20 cents, or 0.8%, at $24.59, following its analyst day meeting yesterday, during which the company said its chief executive, Mark Durcan, plans to retire, and reiterated an outlook for capital spending this year. The stock has gotten some price target increases, such as one from Wells Fargo’s David Wong, who has an Overweight rating on the shares, and who raised his “valuation range” to $27 to $32 from a prior $25 to $32. Wong now sees EPS of $1.87 this fiscal year ending in August, on a GAAP basis, up from his prior $1.80 estimate, but below consensus of $1.91.