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Technology Stocks : WDC, NAND, NVM, enterprise storage systems, etc.

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To: Sam who wrote (4223)

9/25/2019 10:07:15 AM

From: Unwelcomeguest

Read Replies (1) of 4827

Glad to hear he is taking them on. It's one of the precious few initiatives both parties agree on. How refreshing!

In other news, Micron seems to be getting all of the love from the analysts these days. I suppose that's because they announce tomorrow.

Here is the latest from BMO. benzinga.com

BMO Sees Nearly 50% Upside Potential In Micron, 'Attractive' Risk-Reward Picture

Shanthi Rexaline , Benzinga Staff Writer FOLLOW
January 07, 2019 1:50pm 3 min read Comments

Although Micron Technology, Inc. MU 0.16%'s fundamentals are still fluid, the stock has an attractive valuation, according to BMO Capital Markets.

The AnalystAnalyst Ambrish Srivastava upgraded Micron from Market Perform to Outperform and hiked the price target from $32 to $50.

The ThesisMicron's valuation and its more structurally profitable nature are the drivers behind BMO's improved outlook, Srivastava said in the Monday upgrade note.

The semiconductor maker's shares have bottomed out or are close to book value in the last 10 years, the analyst said. The company is unlikely to report negative free cash flow even under "dire" pricing scenarios that BMO has taken into consideration, he said.

Micron has managed to close its gap with larger rivals Samsung Electronics Co Ltd OTCSSNLF and SK Hynix in DRAM, Srivastava said. At the same time, Micron's costs are about $2 billion lower than peers, he said.

If the DRAM ASP falls below $3.80/GB — which is necessary for Micron to break even on free cash flow, the analyst said — the company could lower capex further and manage operating expenditures to some extent.

"We rate the shares Outperform, as we believe we are close to a cyclical trough on the stock and view an attractive risk-reward profile for the shares from current levels."

Price ActionMicron shares were surging 4.79 percent to $34.26 at the time of publication Monday.

Related Links:

Morgan Stanley Sees Choppier Waters Ahead For Micron, Says To 'Use Strength As A Selling Opportunity'

Analysts: Micron's Buyout of Joint Flash Venture With Intel A Long-Term Positive

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