Is Micron Technology Stock a Buy Now?
Micron Technology (NASDAQ: MU) has been a surprise package on the stock market this year, as shares of the memory specialist are up 27% so far even while its top and bottom lines got decimated on account of weak memory demand. What's even more surprising is that Wall Street analysts are recommending buying the stock.
Citi analysts recently issued a buy rating on Micron stock with a $75 price target, which points toward a 19% upside from current levels. What's more, Citigroup isn't the only one that's optimistic about Micron. JPMorgan also has a buy rating on the stock despite citing near-term headwinds along with a $65 price target.
So, does this mean investors who have been staying away from Micron Technology because of the turmoil in the memory market should start buying this semiconductor stock? Let's find out.
Source Fool.com
