| | | His PT seems awfully low given his estimates for 2017 and 2018.
Micron: Macquarie Ups Estimates as DRAM Supply, Demand Keep Shining
Micron will continue to enjoy tight supply for DRAM and healthy demand the rest of this year, writes Macquarie's Srini Pajjuri, which will support pricing for its chips.
By Tiernan Ray
Updated June 13, 2017 9:02 a.m. ET
Shares of DRAM and NAND flash memory-chip maker Micron Technology ( MU) are up 50 cents at $31.70 in early trading, after Macquarie Research's Srini Pajjuri this morning issued a note to clients in which he reiterated his Outperform rating on Micron stock, and his $35 price target, writing that prices for DRAM will continue to rise the rest of this year, driving up his estimates for the company.
Pajjuri raises his estimates for this year to $19.58 billion in revenue and $4.33 per share in non-GAAP EPS, up from $19.507 billion and $4.27 previously. For 2018, he's now modeling $21.675 billion and $5.53, up from $21.446 billion and $5.34 per share.
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