Micron Technology: Rises after Bernstein upgrades to 'outperform'

Nanya Technology

09/01/2019 18:51

(Adds other chipmakers)
    ** Chipmaker's shares  MU.O  up 6.89 pct at $36.06 after
Bernstein upgrades to 'outperform'
    ** "After the sharp correction of memory stocks, and even
with significantly lowered numbers, we now see more attractive
risk/reward for 2019 and thus upgrade Micron to Outperform" -
Bernstein
    ** Bernstein also says it now estimates limited downside for
all four DRAM stocks with 70 pct potential upside for SK Hynix
Inc  000660.KS , Samsung Electronics Co Ltd  005930.KS  and MU
    ** Shares of SK Hynix closed at 7.43 pct at 63,600 won;
Samsung closed at 3.94 pct at 39,600 won
    ** Brokerage upgrades Nanya Technology Corp  2408.TW  to
'market-perform'
    ** 21 of 34 brokerages rate the stock "buy" or higher and 13
"hold"; Median PT $47
    ** MU shares fell 22.8 pct in 2018; SK Hynix shares fell ~21
pct in 2018; Samsung shares fell 24.05 pct in 2018

 (Reporting by Sayanti Chakraborty in Bengaluru)
 ((RM: sayanti.chakraborty.thomsonreuters.com@reuters.net))