Micron continues rally following bullish Drexel Hamilton note

Drexel Hamilton's Richard Whittington has upped his Micron (MU +3.1%) PT all the way to $50 from $30. He expects DRAM prices to keep rising this year and next thanks to a favorable supply/demand balance, and expects DRAM margins to eventually hit 50%.

Micron had a Feb. quarter gross margin (covers both DRAM and NAND flash sales) of 34%. Shares rallied on Thursday following SanDisk's Q1 beat and margin guidance hike, and are once more close to a 52-week high of $25.68.

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Comments (3)
  • lewhite
    , contributor
    Comments (212) | Send Message
    Rick is back. Hooray!!!
    21 Apr 2014, 12:14 PM Reply Like
  • thejacadagroup
    , contributor
    Comments (92) | Send Message
    Finally we are now on the move!!
    21 Apr 2014, 12:29 PM Reply Like
  • Guy in Ithaca
    , contributor
    Comments (428) | Send Message
    Good news! I knew this would happen, just not when.
    21 Apr 2014, 12:55 PM Reply Like
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