Wells Fargo analyst Aaron Rakers lowered the firm’s price target on Micron (MU) to $140 from $175 and keeps an Overweight rating on the shares. While the firm says its datacenter-driven positive thesis is unchanged, it’s “tough” to argue against the weaker Q2-driven selloff in the shares, the analyst tells investors in a research note. Wells says it “underestimated” the consumer-driven inventory correction.
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Read More on MU:
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- Micron downgraded to Neutral from Buy at BofA
- Micron price target lowered to $140 from $175 at Wells Fargo
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