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Actionable news in MU: Micron Technology, Inc.,

Micron Technology Now a Strong Buy on Estimate Revisions

On Mar 7, Zacks Investment Research upgraded Micron Technology, Inc. MU to a Zacks Rank #1 (Strong Buy).

Why the Upgrade?

The upgrade was primarily driven by the company’s recent guidance revision ahead of its fiscal second-quarter 2017 results, which are expected on Mar 23. This resulted in estimate revisions as well.

Micron’s management now expects revenues of $4.65 billion (+/- $50 million), compared with the earlier estimate of $4.35 billion to $4.7 billion. The Zacks Consensus Estimate is pegged at $4.62 billion.

Also, the company now expects to report pro forma earnings per share (EPS) of 86 cents, (+/- a few cents) compared with the earlier projection of 58 cents to 68 cents. The Zacks Consensus Estimate is pegged at 77 cents.