Micron price target lowered to $125 from $140 at Wedbush

Wedbush analyst Matt Bryson lowered the firm’s price target on Micron (MU) to $125 from $140 and keeps an Outperform rating on the shares. Micron delivered results at the high end of prior Q1 guidance despite incremental end market headwinds, though industry headwinds, however, are expected to weigh significantly more on Q2 results, causing Micron to guide for a meaningful sequential decline in sales and EPS, the analyst tells investors in a research note. While the Q2 outlook is disappointing, Wedbush sees many of the factors weighing on Micron’s guidance as short-term in nature.