Micron higher on CS Focus List addition, Samsung DRAM report

|About: Micron Technology Inc. (MU)|By:, SA News Editor

Three weeks after hiking its Micron (MU +3.5%) PT to $50, Credit Suisse is planting itself even more firmly on an increasingly crowded bandwagon by adding the memory giant to its Focus List.

CS praises a valuation of 9.8x EPS, and sees new products and margin expansion driving future EPS growth.

Separately, Taiwan's Economic Daily News reports Samsung (SSNLF, SSNGY) has told clients it plans to raise DRAM contract prices by 10% starting in July.

The paper also states spot prices for mainstay 4Gb DDR3 DRAM chips (widely used in PCs) could reach $4.60 in Q3. DRAMeXchange showed an average Friday price of $4.255, following a Q2 gain of nearly 20%.

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