In a research report released today, Deutsche Bank analyst Bob Gujavarty reiterated a Buy rating on Micron Technology, Inc. (NASDAQ:MU) with a price target of $40, following the company’s Winter Analyst Day, which took place in Scottsdale,Arizona on February 13.
Gujavarty noted, “Overall, we walked away more optimistic that MU is not only doing its part exercising discipline on capacity additions, it is also focu sed on closing its technology gap with competitors, as well as moving towards more differentiated and value-add products. We believe the combination of these factors will help MU sustain its healthy margins and become less dependent on the commodity part of the industry.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Bob Gujavarty has a total average return of 29.4% and a 44.4% success rate. Gujavarty has a 39.8% average return when recommending MU, and is ranked #881 out of 3476 analysts.
Micron Technology, Inc., is a global manufacturer and marketer of semiconductor devices, principally NAND Flash, DRAM and NOR Flash memory, as well as other memory technologies, packaging solutions and semiconductor systems for use in computing, consumer, networking, automotive, industrial, embedded and mobile products.