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Technology Stocks : WDC, NAND, NVM, enterprise storage systems, etc.
SNDK 195.96-20.3%Nov 20 3:59 PM EST
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To: Unwelcomeguest who wrote (3742)5/15/2018 8:54:50 AM
From: Sam   of 4828
 
Micron Stock Gains After Stifel Raises Target To Street-high $101 -- MarketWatch
Dow Jones Newswires18 minutes ago

Shares of Micron Technology Inc. (MU) are up 1.5% in premarket trading Tuesday after Stifel analyst Kevin Cassidy raised his price target on the stock to $101 from $95. The new target is the highest on Wall Street, according to FactSet, and represents more than 90% upside from current levels. Micron shares closed Monday at $53. Cassidy estimates that PC commodity DRAM prices for the May quarter are up 6% from a quarter earlier, while mobile DRAM prices are up 4%. Cassidy had previously forecast a drop in DRAM average selling prices. As for NAND, Cassidy wrote that prices appear to be down during the quarter, but he thinks the takeaway is that "the NAND flash market is growing and far from collapsing as the bear case has it." He believes the broader industry is "healthy" and will benefit from " increased demand for more price sensitive consumer applications such as PC adoption of SSDs to replace HDDs and increased mobile handset content." Cassidy rates the stock a buy. Micron shares are up 84% over the past 12 months, while the S&P 500 has gained 14% and the PHLX Semiconductor Index has risen 29%.

-Emily Bary For more from MarketWatch: marketwatch.com
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