Yahoo Finance

UBS lowered the firm’s price target on Micron (MU) to $125 from $135 and keeps a Buy rating on the shares. Micron’s guidance was below the most bearish expectations into the report, with Micron citing ongoing malaise in consumer markets, the analyst tells investors in a research note. However, UBS sees numerous bright spots, saying the DRAM story is very good, and thinks the model sets up for a big “hockey stick” in revenue moving through the year. UBS sees the pullback as a buying opportunity.

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Read More on MU:

• Citi stays Buy on Micron despite worse than expected guidance

• Micron price target lowered to $145 from $180 at JPMorgan

• Micron price target lowered to $110 from $145 at Barclays

• Micron price target lowered to $140 from $175 at Wells Fargo

• Micron downgraded to Neutral at BofA on extended pricing pressure