MicronSterne Agee has a buy rating and a 12-month price target of $14 on Micron, implying potential upside of more than 100% from current prices. The firm thinks weak DRAM pricing will make for a poor performance when the company reports its fiscal fourth-quarter results on Thursday but feels the picture brightens up from there as Micron continues to increase its focus on NAND flash memory products.
SanDiskSanDisk's flash memory business is enjoying momentum from the ascendance of tablets and smart phones, and Sterne Agee has a buy rating on the stock with a price target of $65. The company is expected to report its fiscal third-quarter results in the third week of October, and the average estimate of analysts polled by Thomson Reuters is for a profit of $1.07 a share on revenue of $1.42 billion. "We believe L-T
Silicon GraphicsSterne Agee has a buy rating and $22 price target on Silicon Graphics, which has surprised Wall Street with profits in its last two quarters. The stock has bucked the trend in the broad market, surging more than 50% so far in 2011. "We view SGI as one of the few pure plays in our space on Big Data over the next two to three years as the company optimizes its CloudRack solutions for Hadoop environments and expands the use cases into the enterprise markets with its Altix UV In-Memory database," the firm wrote. "With shares trading off roughly 15% over the last three months as the market has corrected relative to the broader NASDAQ at ~7% -- we believe SGI's valuation at 0.4x revenue offers an attractive entry point." Silicon Graphics is expected to report its fiscal first-quarter results on Nov. 10, and Wall Street is expecting earnings of 4 cents a share in the September-ending period on revenue of $163.8 million. The stock was recently changing hands at $14.12, up 3%.