The ongoing weakness in DRAM and NAND pricing is probably to be brief-lived, and Micron Technology, Inc. (NASDAQ: MU) seems perfectly-positioned to go on executing on its tech transitions, in accordance to Goldman Sachs.
The Micron Know-how Analyst: Toshiya Hari upgraded Micron Technologies from Neutral to Buy with an unchanged $58 price concentrate on.
The Micron Technology Takeaways: New sector checks suggest a likely restoration in DRAM need in the again half of the 12 months, supported by seasonal power in smartphones and pull-ins from Huawei, Hari reported in the Monday enhance take note.
For both equally DRAM and NAND, the analyst forecast “muted source advancement heading ahead,” with need development outpacing offer growth in 2021.
“MU has underperformed the SOX/SPX by 17pp/15pp about the previous 3 months, which to us, indicates that the in close proximity to-expression pricing dynamics are perfectly-comprehended by the sector.”
The stock’s threat-reward “skews good,” he claimed.
“We consider signs of offer self-control on the component of the memory suppliers and price stabilization will serve as likely catalysts for the inventory.”
MU Selling price Action: Shares of Micron Technological know-how have been buying and selling 7.09% increased at $49.36 at past look at Monday.
Latest Scores for MU
| Day | Business | Motion | From | To |
|---|---|---|---|---|
| Sep 2020 | Goldman Sachs | Upgrades | Neutral | Invest in |
| Aug 2020 | B of A Securities | Maintains | Purchase | |
| Aug 2020 | Deutsche Bank | Downgrades | Acquire | Hold |
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