Citi Reiterates Buy Rating on Micron Technology (MU)

Citi analyst Christopher Danely reiterated a Buy rating and $150.00 price target on Micron Technology (NASDAQ: MU).

The analyst commented: "Yesterday after the close, Micron reported above Consensus results and guidance driven by better-than-expected DRAM pricing due to strength from the Data Center end market (25% of sales). While there is excess DRAM inventory in the PC and handset end markets, this should finish by spring and is being offset by strength from the data center end market. We remain
bullish on the DRAM recovery given supply/demand dynamics for C25 and reiterate our Buy rating and $150.00 price target on Micron."

For an analyst ratings summary and ratings history on Micron Technology click here. For more ratings news on Micron Technology click here.

Shares of Micron Technology closed at $95.77 yesterday.

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