Cascend Securities Reaffirms Their Buy Rating on Micron (MU)

By Austin Angelo

In a report released today, Eric Ross from Cascend Securities maintained a Buy rating on Micron (MUResearch Report), with a price target of $65. The company’s shares closed last Monday at $50.29, close to its 52-week high of $51.39.

Ross has an average return of 11.4% when recommending Micron.

According to TipRanks.com, Ross is ranked #4111 out of 5555 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Micron with a $50.52 average price target, implying a 0.7% upside from current levels. In a report issued on September 3, Mizuho Securities also reiterated a Buy rating on the stock with a $50 price target.

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Micron’s market cap is currently $55.36B and has a P/E ratio of 5.88. The company has a Price to Book ratio of 1.57.

Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is neutral on the stock.

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Micron Technology, Inc. engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU).