While positive coverage from Wall Street ****** ysts doesn't necessarily mean a stock will go up, it can be a useful gauge of sentiment among influential institutional investors. It can also provide useful insights into the key catalysts that could shape pricing action going forward.
Along those lines, Micron Technology (NASDAQ: MU) shareholders and those who are considering buying the stock have had a lot to feel good about recently. On June 24, the company published results for the third quarter of its current fiscal year -- a period that wrapped on May 28. Following the memory technology specialist's blowout quarterly report, it has received another round of bullish ratings and price target increases from high-profile investment firms.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Micron posted sales of $41.46 billion in the quarter, trouncing the average ****** yst estimate for revenue of $35.84 billion in the period. Meanwhile, earnings per share came in at $25.11, crushing the average estimate of $20.78. The company also guided for strong sales growth to continue, targeting roughly $50 billion in revenue in the current quarter -- up from roughly $11.3 billion in the prior-year quarter. With such strong results and impressive forward guidance, it wasn't surprising to see a wave of ****** ysts raising valuation targets.
On June 25, Deutsche Bank published new coverage on the stock -- maintaining a buy rating and raising its one-year price target from $1,500 per share to $1,550 per share. Melissa Weathers, the firm's lead ****** yst on the stock, said that Micron's fiscal Q3 report showed the business had cleared a high bar strategically and financially, and went so far as to describe the performance as "stunning."
Along those lines, Micron Technology (NASDAQ: MU) shareholders and those who are considering buying the stock have had a lot to feel good about recently. On June 24, the company published results for the third quarter of its current fiscal year -- a period that wrapped on May 28. Following the memory technology specialist's blowout quarterly report, it has received another round of bullish ratings and price target increases from high-profile investment firms.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Micron posted sales of $41.46 billion in the quarter, trouncing the average ****** yst estimate for revenue of $35.84 billion in the period. Meanwhile, earnings per share came in at $25.11, crushing the average estimate of $20.78. The company also guided for strong sales growth to continue, targeting roughly $50 billion in revenue in the current quarter -- up from roughly $11.3 billion in the prior-year quarter. With such strong results and impressive forward guidance, it wasn't surprising to see a wave of ****** ysts raising valuation targets.
On June 25, Deutsche Bank published new coverage on the stock -- maintaining a buy rating and raising its one-year price target from $1,500 per share to $1,550 per share. Melissa Weathers, the firm's lead ****** yst on the stock, said that Micron's fiscal Q3 report showed the business had cleared a high bar strategically and financially, and went so far as to describe the performance as "stunning."
1 month ago
