Roth Capital Raises Micron Technology Price Target Following Good 4Q14 Results
In a research report published today, Roth Capital analyst Krishna Shankar maintained a Buy rating on Micron Technology (NASDAQ:MU), and raised his price target to $40 (from $37), following good 4Q14 revenue/GAAP EPS results of $4.23 billion/$0.96 versus Shankar’s $4.13 billion/$0.67 estimate.
Shankar wrote, “we raise our estimates and reiterate our Buy rating. Micron had a positive outlook for 2014/2015 DRAM and NAND flash pricing and demand due to industry consolidation and muted capacity additions. We view Micron’s focus on higher-margin server, networking, smartphone/tablet DRAM and NAND flash as a positive with the tailwind of a PC industry recovery.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Krishna Shankar has a total average return of 13.0% and a 58.5% success rate. Shankar has a 94.5% average return when recommending MU, and is ranked #379 out of 3321 analysts.