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Politics : Formerly About Advanced Micro Devices

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To: Duncan Baird who started this subject	3/15/2001 1:21:51 PM
From: tejek	Read Replies (1) of 1581594

FWIW ____________________________________________________________ Analysts Split on Micron's Outlook By Dan Bernstein Editorial Assistant 3/15/01 12:25 PM ET It's not unusual for analysts to pile on a stock with negative reports after a company comes out with bad news. There are few surprises there. It's more fun to watch the analysts who come out on the same day and put out different takes on the same stock. Today's target -- Micron Technology (MU:NYSE - news). Merrill Lynch's Joe Osha and Charles Boucher of Bear, Stearns agree on the basics of chip company Micron and semiconductors in general. Osha wrote that the semiconductor area may be set for a swing. Boucher echoed, writing "that DRAM prices may be bottoming and PC manufacturer inventories are low." Chipmakers have been through the rough and tumble with slowing demand for PCs having hurt business in a big way. When it comes to Micron, the difference lies in figuring out where these changing market conditions leave the company. Boucher downgraded the chipmaker to Attractive from Buy and reduced his first-quarter earnings estimates. He also cut his 2001 earnings outlook to 65 cents a share from 76 cents a share. Boucher put a $55 price target on the stock, with a "potential downside risk to $30." Osha said the improvement in supply conditions will benefit Micron. He reiterated his Buy recommendation and wrote that "pricing stability should mean improving share price performance." He lists a $70 price target. Micron has fallen more than 50% from last July. It recovered a bit recently, gaining 6% in the past week and more than 27% since the start of the month. Micron was lately trading up 1.3% to $44.07. thestreet.com

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