Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

Prudential Raises Rating on Micron Tech to Strong Buy


Prudential Securities upgraded its investment recommendation on shares of Micron Technology (MU), a maker of computer memory products, to strong buy from accumulate.

Analyst Hans Mosesmann thinks Micron will be the leading indicator going into the second peak of the semiconductor cycle, as it was going into the first peak. He sees anecdotal evidence of spot prices stabilizing and increasing for branded DRAMs. While he does not believe this suggests a sustainable upward move in pricing because sales were of lower volumes, Mosesmann thinks a bottom is forming, and further significant downside limited. He notes that Micron has one of the industry's lowest cost structures and will likely continue to gain share.

The analyst sees EPS of $0.80 in fiscal 2001 (Aug.) and $2.00 in fiscal 2002. He raised his $38 price target to $75.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus