Banc of America Upgrades Micron Technology, but ABN Cuts Estimate

Publish date:

Micron Technology

(MU) - Get Report

received mixed signals today, as

Banc of America

upgraded the shares but

ABN Amro

cut the chipmaker's 2001 earnings estimate.

Banc of America raised Micron to strong buy from buy and raised its 12-month price target to $50 from $40, while holding its 2001 earnings projection of $2.40 a share. ABN cut its estimate on Micron to $2 a share from $3.70, but maintained its buy rating and 12-month target of $70.

Shares of Micron gave back gains from earlier this morning and were recently down $1.75, or 4.3%, to $39.13 on the

New York Stock Exchange


Among other semiconductor majors, shares of

Advanced Micro Devices

(AMD) - Get Report

were also lower, trading down 94 cents, or 4.5%, to $19.88 in Big Board action. Shares of


(INTC) - Get Report

were being rewarded, recently trading up $1.81, or 4.1%, to $45.75 in