Equity Analysis Feb. 6th: Micron Tech, Intel Corp, Gilead, CMS, Diamond Offshore

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Micron Technology Inc. (NASDAQ:MU): After the death of Micron CEO Steve Appleton, Oppenheimer believes the company has a deep executive bench and several positive catalysts this year.

Intel Corporation (NASDAQ:INTC): UBS raised its price target on Intel citing the relationship between the company’s increase in capex with its increase in server processor sales. The firm believes the sustainability of these trends and market growth will allow Intel to maintain its competitive position. Shares are Buy rated.

Gilead Sciences Inc.(NASDAQ:GILD): ThinkEquity increased its target on Gilead after the company announced preliminary ELECTRON trial GS-7977 data demonstrating 100% RVR in Genotype-1 patients. The firm believes that the company has several upcoming positive catalysts and reiterates a Buy rating.

CMS Energy Corp.(NYSE:CMS): After the staff of a Michigan commission recommended that the gas base rates of CMS’ Consumers Energy be cut by $21.9M, BMO Capital expects the commission’s final decision to be significantly more favorable to CMS. The firm maintains an Outperform rating on the stock.

Diamond Offshore Drilling Inc.(NYSE:DO): UBS lowered its price target on Diamond Offshore following generally in-line Q4 results. The firm cited the company’s forecast for higher operational expenses but noted customer interest for its upgraded rigs, its potential to reactivate rigs in GOM, and dividend yield. Shares remain Buy rated.

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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