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Micron price target raised to $71 from $67 at Needham
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Micron price target raised to $71 from $67 at Needham

Needham raised the firm’s price target on Micron to $71 from $67 and keeps a Buy rating on the shares. While the company’s reported a bottom-line miss for Q2 as inventory charges work their way through the near-term model, its customer inventory is being worked down across all end markets and its margins are recovering as inventory charges abate and pricing stabilizes, the analyst tells investors in a research note. The stock should "work" as Micron’s Q3 likely represents an earnings trough, Needham added.

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