Micron’s earnings and Outlook forecast estimates: here’s the analysts’ reaction


Micron Technology (MU) – Get Report shares were higher after the second quarter fiscal results and third quarter guidelines exceeded expectations.

Bank of America, JPMorgan, Wedbush and Deutsche Bank analysts released bullish notes on Boise, Idaho, memory and storage solutions on Wednesday.

At the last check, Micron’s shares were up 6% to $ 45.06.

Double update of Bank of America for the purchase of From Underperform (PT confirmed at $ 60)

Our purchase rating is based on (1) low book price (close to the previous depression almost 1 time), (2) margin improvement (late May quarter) compared to a more severe outbreak of Covid-19 (Europe, United States), (3) well managed chip production (no disruption) using new technology (1xnm / 1ynm DRAM, 128 level NAND) and (4) solid financial data (net liquidity) and active shareholder returns using the flow free cash (repurchase)), “wrote analyst Simon Woo.

JPMorgan Maintains Overweight Rating (PT $ 65)

“While the full impact of
Covid-19, especially in the second half of the year, it is unclear, we expect that
require that the environment be mixed with constant force in the data center and cloud
game compensated for by weaker consumer product trends such as PCs, smartphones,
and auto, at least in the short term, “wrote analyst Harlan Sur.

Webush maintains superior performance rating (PT raised to $ 65 from $ 51)

“While we are still positive on Micron, the future has become more opaque.
We firmly believe that memory price contracts have been set at favorable levels
for CQ2. As such, while we consider management conservatism prudent
in light of global economic uncertainty, if the conditions of the end market do not differ
significantly from what we are seeing today, we expect prices to be better than
we modeled, allowing MU to exceed our estimates, “wrote analyst Matt Bryson.

Deutsche Bank claims purchase rating (lowers PT to $ 60 from $ 65)

“Second quarter fiscal results and third quarter fiscal guidance were strong as MU benefited from improved NAND
prices and stronger demand from data centers and notebooks, compensating for weaker
smartphone / car / consumer electronics demand, “analyst Sidney Ho wrote.” We lowered our $ 65 price target
at $ 60 to represent the potential destruction of demand from Covid-19. Also as MU
it faces ongoing uncertainties, with the trading of shares at just 1.3 times the current carrying amount
(compared to a historical average of 1.7x), we believe that the risk-return profile
remains favorable and we maintain our purchase rating. “