Barclays analyst Blayne Curtis maintained a Buy rating on Micron (MU) yesterday and set a price target of $40. The company’s shares closed yesterday at $33.88, close to its 52-week low of $28.39.
According to TipRanks.com, Curtis is a 5-star analyst with an average return of 8.3% and a 58.2% success rate. Curtis covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, Smart Global Holdings Inc, and Quantenna Communications.
Currently, the analyst consensus on Micron is a Moderate Buy with an average price target of $49.33, a 45.6% upside from current levels. In a report issued on January 7, BMO Capital also upgraded the stock to Buy with a $50 price target.
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Based on Micron’s latest earnings release for the quarter ending November 30, the company reported a quarterly revenue of $7.91 billion and net profit of $3.29 billion. In comparison, last year the company earned revenue of $6.8 billion and had a net profit of $2.68 billion.
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Micron Technology, Inc. engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU).
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