Wells Fargo analyst Aaron Rakers lowered the firm’s price target on Micron to $70 from $75 and keeps an Overweight rating on the shares. The analyst says he would not be surprised to see shares trading lower ahead of upcoming Q1 earnings release. Weakening fundamentals leave him to now model non-GAAP EPS losses through 2023; down-cycle bottom shifting to mid/second half of 2023 versus prior first half of 2023 expectation, Rakers adds.
Published first on TheFly
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