Micron price target raised to $65 from $53 at KeyBanc - InvestingChannel

Micron price target raised to $65 from $53 at KeyBanc

KeyBanc analyst Weston Twigg raised his price target for Micron Technology to $65 and keeps an Overweight rating on the shares. Micron closed yesterday up 23c to $53.97. Sequential average selling price declines will be less severe than previously modeled over the next few quarters, Twigg tells investors in a research note. He believes the memory markets “remain very healthy” and sees good mid- to long-term trends for the company. NAND pricing risk appears less severe than expected while DRAM pricing remains strong, Twigg contends. He raised his fiscal 2018 earnings per share estimate for Micron to $10.66 from $10.26 and fiscal 2019 estimate to $10.12 from $9.82.

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