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Technology Stocks : Semi Equipment Analysis

SOXX 314.52

-0.6%

Dec 11 4:00 PM EST

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To: Sam who wrote (77191)	9/27/2017 11:33:41 AM
From: Donald Wennerstrom	Read Replies (1) of 95567

No matter what happens, the perennial "bear" CFRA never gives up. CFRA KEEPS HOLD RECOMMENDATION ON SHARES OF MICRON TECHNOLOGY, INC. 9:21 am ET September 27, 2017 (CFRA) We up our 12-month target by $2 to $37 on peer-discount P/E of 6.2X our FY 19 (Aug.) EPS view to reflect limited earnings visibility. We raise our FY 18 EPS estimate to $7.66 from $5.69 and start FY 19 at $6.01. MU posts Aug-Q EPS of $2.02 vs. $0.05 loss, beating the $1.84 consensus. Sales rose 10% while margins widened from the May-Q, both better than expected, led by higher volume and selling prices for DRAM and NAND. Despite the healthy memory landscape and improving prospects for solid state, we are wary of potential pricing declines given industry supply growth in CY 18.

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