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Technology Stocks : Semi Equipment Analysis
SOXX 312.18-0.2%Dec 9 4:00 PM EST
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From: Sam9/18/2018 9:07:31 AM
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Micron target lowered at Cowen; analyst calls sentiment 'dreadful' ahead of earnings
By Emily Bary
Published: Sept 18, 2018 8:31 a.m. ET

Cowen & Co. analyst Karl Ackerman lowered his price target on shares of Micron Technology Inc. MU, -1.63% to $62 from $72 overnight, though he kept his outperform rating intact. "Investor sentiment is dreadful going into the company's print Sept. 20 after market close, but we cannot dismiss incremental risk in H2 of this year as our field trip in Asia last week reveals a less benign supply/demand environment for DRAM," Ackerman wrote. "We expect Micron to guide below for the first time in 8 quarters, but this appears priced-in." Also on Tuesday, J.P. Morgan reiterated its bullish view on the stock. Shares are up 0.7% in premarket trading Tuesday, though they're down 25% over the past three months. The S&P 500 SPX, -0.56% has gained 4.2% in that time.

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