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Technology Stocks : Micron Only Forum -- Ignore unavailable to you. Want to Upgrade?

To: DJBEINO who wrote (47036)	7/9/1999 11:01:00 AM
From: Thomas G. Busillo	Read Replies (1) \| Respond to of 53903

DJ, Merrill lowered Q499 to a loss of .09 from a profit of .06. Shows you how Merrill's rating system is actually pretty darn rational. Let's see, they had a 12-month price target of $45 on 6-24-99. The stock has surpassed the target AND their analyst has lowered his estimates for the next quarter and the next full FY. So obviously if the stock has already passed the price target and the analyst feels the near-term earnings outlook has worsened, then there really is only one logical thing to do. Reiterate that near-term buy rating. In the real world, maybe not so rational. But this isn't the real world. This is Merrill Lynch <g> cbs.marketwatch.com Yet, Micron Technology (MU: news, msgs) turned the other way after Merrill Lynch analyst Joe Osha lowered his earnings per share estimates on the company. Osha said his new fourth-quarter outlook is a loss of 9 cents down from a profit of 6 cents per share. His 1999 estimate moved to a loss of 29 cents from a loss of 13 cents a share. This compares to the First Call Corp. predictions of a loss of 16 cents and a loss of 35 cents per share, respectively. Micron shares were flat at 48 5/16. Good trading, Tom