BMO Capital has decided to maintain its Outperform rating of Micron Technology (NASDAQ:MU) and lower its price target from $115.00 to $85.00.
Shares of Micron Technology are trading up 2.62% over the last 24 hours, at $59.97 per share.
A move to $85.00 would account for a 41.74% increase from the current share price.
About Micron Technology
Micron historically focused on designing and manufacturing DRAM for PCs. The firm then expanded into the NAND flash memory market. It increased its DRAM scale with the purchase of Elpida (completed in mid-2013) and Inotera (completed in December 2016). The firm's DRAM and NAND products tailored to PCs, data centers, smartphones, game consoles, automotives, and other computing devices.
About Analyst Ratings
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
