마이크론 애널리스트들은 낮아진 가이던스를 무시하다(2020.09.30)

2020.09.30

마이크론 현재가 46.96달러.

Micron analysts shrug off Huawei-lowered guidance

마이크론 애널리스트들은 화웨이 문제와 낮아진 가이던스를 대수롭지 않게 여긴다.

 

1.코웬의 애널리스트 칼에이커만의 마이크론 투자 등급은 아웃퍼폼.

  목표가는 3달러 낮춘 57달러.

 

2.RBC 애널 미치 스티브-->투자등급 아웃퍼폼.

목표가 60달러에서 57달러로 하향.

 

3.모건스탠리의 애널 죠셉 무어-->비중확대.

목표가 63달러.

 

1.Cowen analyst Karl Ackerman maintains an Outperform rating on Micron (NASDAQ:MU) and lowers the price target by $3 to $57, saying the weaker outlook was "well-telegraphed," but the "higher DRAM production costs, front-half loaded capex and lackluster demand will hurt" gross margins and FCF.

Ackerman calls the elevated inventory levels and continuing enterprise weakness "a bit disconcerting."

 

2.RBC's Mitch Steves (Outperform, PT from $60 to $57) says it was "a solid quarter" with the outlook weighed down by Huawei. Steves thinks 2021 "will be the year where cyclical stocks begin to see improvements."

 

3.Morgan Stanley's Joseph Moore (Overweight, $63) expects "tough conditions for another couple of quarters,

but recovery thereafter." He says guidance was "well below consensus" but praises management's execution "under challenging market conditions."

Moore notes that the capex guidance means FCF will "likely be negative for at least a couple of quarters unless pricing rebounds."