Boston, MA 10/04/2013 (wallstreetpr) – A research note to investors released Thursday by Credit Suisse indicates a rise in Micron Technology, Inc. (NASDAQ:MU)’s price target from $20 to $25. This new target price is approximately 41.52% upside from the prevailing stock price. Credit Suisse has also given the stock an “outperform” rating in the new report. The rating firm notes multiple positive factors on the stock in its recommendation report to investors.
Credit Suisse is just the latest firm to echo its comment on MU’s financial health and future. Other analysts such as Nomura have also issued their recommendation on MU. From Nomura, MU has a “neutral” rating and $14 price target up from $16 in the previous report. This is according to a report published Monday.
At Stifel Nicolaus, analysts have a “buy” rating on MU according to their note to investors released in the last week of September. They have also raised their price target on the stock up to $24 from the previous $20.
TheStreet have reiterated their “hold” view on the stock in a research report to the investor community published September 26.
So far, MU has a “sell” rating from one equities analyst, a “hold” rating from 17 analysts and a “buy” rating from 14 analysts. One analyst has exuded a lot of confidence in the stock with a “strong buy” rating. Thus, on average, MU has “hold” rating and $16.34 in consensus price target.
Currently, MU has a year high of $18.13 and a year low of $5.16. The stock has a market value of 18.64 billion. And the stock’s moving average for 200 days is $12.65.
The optimism expressed by analysts regarding MU, a global solution for semiconductor devices, is has a lot to do with the good tide in the tech industry. Generally technology companies are not only reaping big currently, but they are poised for even greater long-term performance.
