Stifel expects fiscal Q1 results due from Micron (MU) on December 18 to “largely track” the firm’s and consensus estimates, reflecting strong quarter-over-quarter and year-over-year growth. While noting that the firm’s Q2 estimates reflect “modest” quarter-over-quarter growth and are below consensus, the firm suspects Micron could guide “even more conservatively” given seasonal and cyclical headwinds as consumer demand “continues to underwhelm.” However, the firm view this as “a mid-cycle correction, in which Micron can sustain strong margins/profitability,” adds the analyst, who keeps a Buy rating and $135 price target on Micron shares.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on MU:
- VOO ETF Update, 12/13/2024
- ‘Load Up Ahead of Earnings,’ Says Top Investor About Micron Stock
- Micron Set for Strong Q1, but Guidance and CapEx Will Drive Market Reaction
- QQQ ETF Update, 12/12/2024
- Albertsons terminates Kroger deal, Macy’s reports Q3 beat: Morning Buzz
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
