Sterne Agee defends Micron following Samsung report

|About: Samsung Electronics Co., Ltd. (SSNLF)|By:, SA News Editor

In response to a Morgan Stanley report stating Samsung (SSNLF, SSNGY) plans to hike its DRAM output, Sterne Agee says it doesn't believe Samsung is bringing any new capacity online.

The firm is reiterating a Buy and $40 PT on Micron (MU -2.1%). Shares have rebounded a little from their morning lows.