Micron Technology "outperform," estimates raised

06/29/07 - Research Capital

NEW YORK, June 29 (newratings.com) - Analysts at Robert W Baird reiterate their "outperform" rating on Micron Technology Inc (MU), while raising their estimates for the company. The target price is set to $18.

In a research note published this morning, the analysts mention that the company has reported its F3Q07 results broadly in-line with expectations, with EPS marginally short of the estimates. Recent checks indicate that Micron Technology has achieved a significant rebound in Asia with its new DRAM 78nm process. The company is expected to become the cost leader in DRAM later this year, Robert W Baird adds. The EPS estimate for 2007 has been raised from -$0.26 to -$0.28.