Summit Research Says Samsung's L17 Back to System LSI, a Positive for Micron (MU)

Summit Research analyst Srini Sundararajan reiterated a Buy rating and $50 price target on Micron Technology (NASDAQ: MU) Tuesday, saying their checks suggest that Samsung's Line 17 is now back to being a planned System LSI fab instead of being dedicated to DRAM.

"We expect this news to be positive for MU, since a DRAM competitor is now producing less DRAM," the analyst said.

For an analyst ratings summary and ratings history on Micron Technology click here. For more ratings news on Micron Technology click here.

Shares of Micron Technology closed at $32.29 yesterday.

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