Micron +4.1%, SanDisk +0.9% on two-notch BofA/Merrill upgrades


BofA/Merrill has upgraded Micron (MU) and SanDisk (SNDK) to Buy from Underperform. Its Micron PT has been upped by $18 to $40, and its SanDisk PT by $45 to $125.

Analyst Simon Dong-je Woo, who struck a much more cautious stance on Micron in a March note, now thinks "further upside" is likely (in spite of a 33% YTD gain) thanks to solid industry pricing and Micron's cost-competitiveness.

His FY15/16 EPS estimates have been raised by ~50% on average, and he expects a dividend payment by the end of FY15 (ends Aug. '15).

Also: Cresit Suisse has upped its Micron PT by $20 to $50 (a Street high), arguing the memory giant can eventually sustain EPS of $5.

Woo downgraded Micron to Underperform on Dec. 23, when shares were at $22.17.

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Comments (13)
  • The_Hammer
    , contributor
    Comments (5044) | Send Message
     
    here we go now...johnny come lately analyst outdoing each other with increasing price targets...we are gett'en there. although skepticism is still there. hehehe.
    can't wait for the first triple digit price target then the finger will be loosened up to pull the trigger.
    11 Jun 2014, 09:35 AM Reply Like
  • The_Hammer
    , contributor
    Comments (5044) | Send Message
     
    my one caution is management but hopefully industry forces are so strong this overcomes their weaknesses. they surely are deep trough feeders when it comes to stock options.
    11 Jun 2014, 09:59 AM Reply Like
  • MrMatt
    , contributor
    Comments (1395) | Send Message
     
    To bad I already trimmed my position.
    I'll keep a bit, I think there is value here, but it sounds just a bit too euphoric right now, makes me nervous.
    11 Jun 2014, 09:43 AM Reply Like
  • Mark T. Phillips
    , contributor
    Comments (582) | Send Message
     
    A little late to the party but I'm not complaining :)
    11 Jun 2014, 09:44 AM Reply Like
  • Retired Securities Attorney
    , contributor
    Comments (4027) | Send Message
     
    Oops, the analysts are catching on. Time to reconsider.
    11 Jun 2014, 09:56 AM Reply Like
  • Econdad
    , contributor
    Comments (31) | Send Message
     
    I was finally compelled to trim my position by 10%. Sold for a 300% profit. Main reason is that it is such a large part of my portfolio now.
    11 Jun 2014, 09:56 AM Reply Like
  • Hurtsogood
    , contributor
    Comments (712) | Send Message
     
    MU will give you one hell've ride through the ups and downs in the short term and it's definitely not a stock for the weak or timid investor, but the reality is memory is global!... and i don't see MU leaving the party anytime soon.

     

    Long MU BABY!
    11 Jun 2014, 10:00 AM Reply Like
  • mrshoosh
    , contributor
    Comments (6) | Send Message
     
    I can tell you one thing, the new President Mark Adams knows exactly how to make money with this juggernaut. With a BA in Business from Boston College and an MBA from Harvard, I'm pretty confident MU is going long and big.
    11 Jun 2014, 10:24 AM Reply Like
  • Tollsforthee
    , contributor
    Comments (442) | Send Message
     
    Hilarious that the analyst downgraded MU in December @ $22/shr, and upgrades them now @ $29.
    11 Jun 2014, 10:34 AM Reply Like
  • bones2180
    , contributor
    Comments (108) | Send Message
     
    The guy completely misses the cycle and people actually listen to this call.
    I would have fired the guy and brought in a new analyst before letting this idiot make his call.
    Wall street(!
    11 Jun 2014, 10:57 AM Reply Like
  • samsontor
    , contributor
    Comments (4) | Send Message
     
    He is trying to catch up and make money for at least a day.
    If he was dead wrong and just woke up today, he must be right now? He is waiting for that top to make money for at least a day.
    11 Jun 2014, 01:24 PM Reply Like
  • Ed Porter
    , contributor
    Comments (715) | Send Message
     
    Don't bite the hand that feeds us!

     

    We need these numbskulls telling 'everybody' what to do....
    11 Jun 2014, 07:28 PM Reply Like
  • student23
    , contributor
    Comments (88) | Send Message
     
    So Micron is above $30!!! is that mean that whatever they report on June 23 the stock is going to sell-off ?
    11 Jun 2014, 11:35 AM Reply Like
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