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Technology Stocks : Semi Equipment Analysis

SOXX 312.76

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Dec 8 4:00 PM EST

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From: Sam	2/6/2020 7:39:19 AM
	3 Recommendations Recommended By FJB oldbeachlvr Return to Sender of 95536

Micron stock rises after double upgrade to 'strong buy' MARKETWATCH 7:36 AM ET 2/6/2020 Micron Technology Inc. (MU) shares (MU) were up 2.3% in premarket trading Thursday after Raymond James analyst Chris Caso upgraded the stock by two notches, to strong buy from market perform. He set a $70 price target on the stock. "Our more bullish view is no longer unique, as sentiment has improved sharply due to recent price increases," Caso wrote. "Those price increases, occurring in the seasonally weakest part of the year, indeed surprised us. Nonetheless, our analysis of conditions looking forward concludes that supply/demand conditions are highly likely to improve further as the year progresses." He said that memory capital expenditures have been falling sharply, which will likely cap capacity in the second half of the year, while customer inventory "has normalized." Micron shares have added 19% over the past three months, as the S&P 500 has risen 8.4%. -Emily Bary; 415-439-6400; AskNewswires@dowjones.com

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