- Mizuho maintains a Buy rating and raises its Micron Technology (NASDAQ:MU) price target from $55 to $66, an 11% upside to yesterday’s close.
- Firm cites Asian checks that point to continued DRAM and NAND demand and price momentum into the June quarter.
- Mizuho thinks Micron’s near-term estimates are conservative with a potential for about $3 EPS in the quarter as the company moves out of the seasonally weak part of the year.
- Micron will report Q2 results on March 22
- Micron shares are up 4.2% premarket to $61.89.
- DRAM / NAND players that could move with Micron: Samsung (OTC:SSNNF, OTC:SSNLF), SK Hynix (OTC:HXSCF, OTC:HXSCL), Toshiba Toshiba (OTCPK:TOSBF, OTCPK:TOSYY), Western Digital (NYSE:WDC), and Intel (NASDAQ:INTC).
- Previously: Nomura raises Micron target to new Street high; shares +3.1% (March 12)