Keybanc analyst John Vinh reiterated Micron Technology Inc (NASDAQ: MU) with an Overweight and lowered the price target from $120 to $110, indicating a 48.6% upside.
Goldman Sachs analyst Toshiya Hari expects Micron's Q4 revenue and EPS to "land within the company's guided range."
However, Hari also notes that recent industry conversations point to a potential downside to his published estimates for Q1 due to soft pricing in DRAM and, to a lesser extent, in NAND.
Near-term weakness, particularly in the PC end market, combined with the company's possible decision to re-build inventory and its "tendency to guide conservatively," could lead to a "muted" outlook for Q1, warns Hari.
He maintained a Buy rating and $108 price target, implying a 46% upside.
Price Action: MU shares traded lower by 1% at $73.3 in the premarket session on the last check Friday.
Latest Ratings for MU
View More Analyst Ratings for MU
View the Latest Analyst Ratings
Click here for options trades from Benzinga
Clearwater Analytics Raises 0M Via IPO At /Share, Trading Begins Today
Uxin Clocks 347% Revenue Growth In Q1, Posts Positive Margin
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.