What's Going On With Micron Stock?
Portfolio Pulse from Erica Kollmann
Micron Technology's stock is trading lower after Raymond James reduced its price target from $160 to $125. Despite a $70 billion market value loss since June, some analysts and investors remain optimistic about Micron's potential, citing external factors affecting the semiconductor sector. Micron is set to report its financial results on Sept. 25, with analysts expecting earnings of $1.15 per share and revenue of $7.667 billion. Wall Street analysts have an average 12-month price target of $169.12 for Micron.
September 12, 2024 | 4:37 pm
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Micron Technology's stock is down after Raymond James lowered its price target. Despite a significant market value loss, analysts remain optimistic, with a 12-month price target of $169.12. Upcoming earnings report on Sept. 25 could influence stock movement.
The reduction in price target by Raymond James is a negative signal, contributing to the stock's decline. However, the overall analyst sentiment remains positive, with a higher average price target, indicating potential upside. The upcoming earnings report could be a catalyst for future price movements.
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