Nomura defends Micron; shares down another 3% premarket

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

Following meetings with new CFO David Zisner, Nomura's Romit Shah maintains his Buy rating and $100 price target (100% upside from yesterday's close).

He doesn't foresee a large jump in capex, and says earnings power of $12-$14 per share over the next year is still the case.

Source: Bloomberg

Micron (NASDAQ:MUfell 6.65% yesterday after a nasty downgrade from UBS. It's lower by another 3.3% in premarket action to $48.20.

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