Keep holding your Micron (NASDAQ: MU) shares.
A bogus Wall Street downgrade hit an already oversold stock.
Drexel Hamilton moved Micron to sell, slashing their price target in half from $40 to $20 per share. That’s a harsh move, based mainly on Micron worries and Samsung competition in the DRAM market.
This sounds more to me like an investment bank interested in doing business with Samsung. What a joke.
Unfortunately, investors listen to this nonsense without thinking things through.
The concern is that profit margins will be negatively impacted. I'll believe it when I see it in actual numbers reported by the company.
Whatever the Drexel concern, is it really worth a 50% haircut in the value of the company? No way.
Hold here, but prepare for further selling.
Earnings are still a month or more down the road, leaving plenty of time for Wall Street manipulation.
Linn Energy, LLC LINE
Houston-based Linn Energy is an independent oil and natural gas exploration and production company. The company has a strong hedging position and continues to deliver production growth despite a decline in capital spending. The company also expects substantial improvement in full-year DCF coverage.
Linn Energy currently trades at $10.58, way below its 52-week high of $32.74. However, its Zacks Rank #2 and a Value Score of ‘A’ indicate strong fundamentals that are likely to drive the stock higher. On the earnings front, Linn energy has surpassed the Zacks Consensus Estimate in three of the trailing four quarters. Also, northward earnings estimate revisions indicate further bullishness ahead.