Raymond James analyst Srini Pajjuri raised the firm’s price target on Micron to $76 from $70 and keeps an Outperform rating on the shares. Micron’s Q3 results were slightly better while its Q4 outlook was slightly below the firm’s model as China related headwinds are impacting the near term outlook and could persist for the next couple of quarters, the analyst tells investors in a research note. The firm believes revenue growth has troughed in Q3 and expects pricing to stabilize in the next one to two quarters.
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