Micron Technology (MU)

[realfast95]

Evercore ISI analyst C.J. Muse said the recent pullback in Micron (MU) provides an "excellent" buying opportunity, with shares offering the best upside in semis. The analyst strongly disagrees with investor concerns that we have reached a cyclical peak given his expectations for the sustainability of the current DRAM cycle driven by structural changes, a much better than expected "soft landing" for NAND, and rising visibility for memory from Data Center/Big Data/AI. Muse expects another beat and raise for the quarter with earnings in the $2.30-$2.40 range and sees full year earnings upside to the $10 level without overly aggressive forecasts. Shares are rated Outperform with a $60 price target.