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Micron Price Target Cut On Manufacturing Transition

2015-03-17 18:19:55| Semiconductors - Topix.net

RBC Capital Markets analyst Doug Freedman lowered his price target on Micron stock to 40 from 44 in a research report Tuesday, saying the equity research firm had been "overly aggressive in assuming that the 20-nanometer transition would be faster and smoother than expected," generating higher growth. He expects higher back-end assembly and test costs to lower Micron's gross profit margin.

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