Nomura raises Micron target to new Street high; shares +3.1%
Mar. 12, 2018 7:59 AM ET|By: Brandy Betz, SA News Editor
Nomura raises its Micron (NASDAQ:MU) price target from $55 to $100, a new Street high and an 83% upside to Friday’s close.
Firm says Micron shares are on the cusp of another breakout.
Potential catalysts: DRAM pricing resuming its climb in Q2, dividend and share buyback announcements in May, NAND margin expansion, and increased M&A discussion.
More action: Evercore ISI raises its Micron target from $60 to $80, a 47% upside.
Source: Notable Calls.
Micron shares are up 3.1% premarket to $56.27.
Peers that could move on the DRAM / NAND comments: Samsung (OTC:SSNNF, OTC:SSNLF), Toshiba (OTCPK:TOSBF, OTCPK:TOSYY), Western Digital (NYSE:WDC), and Intel (NASDAQ:INTC).
