- Needham upgrades Micron (NASDAQ:MU) from Hold to Buy with a $50 PT, a 53% upside.
- After yesterday's earnings report, the firm thinks Micron's EPS is bottoming and the book value is stabilizing, creating a an attractive risk/reward balance.
- More action: Piper Jaffray lowers its Micron target from $40 to $36, believing that the recovery will take several more quarters. The firm stays on the sidelines with a Neutral rating.
- Micron shares are up 9% pre-market to $35.63.
- Micron has a Neutral Quant rating.