Lazard Capital Maintains Buy on Micron Technology

Lazard Capital is out with its report today on Micron Technology (NYSE: MU), maintaining Buy.

In a note to clients, Lazard Capital writes, "Based on our meetings with management we believe the Street is too bearish on recent DRAM spot market price declines and is directly correlating the stock to these declines. While near-term softness exists, we believe that FY12 could positively surprise the Street as Inotera improves bit shipments, IMFS ramps, and DRAM demand picks up."

Lazard Capital maintains a $15 PT on MU.

At the time of posting, shares of MU were trading pre-market at $8.57, up 0.82% from Wednesday's close.