NEW YORK, NY / ACCESSWIRE / June 1, 2018 / Micron and Snap shares had some interesting activity in Thursday's trading session after getting analyst remarks. Micron shares took a tumble after a Morgan Stanley analyst lowered his rating on the stock. Shares of Snap went higher by almost 4% after Citron Research initiated coverage and gave the stock a $17 price target.

RDI Initiates Coverage on:

Micron Technology, Inc.
https://www.rdinvesting.com/report/?ticker=MU

Snap Inc.
https://www.rdinvesting.com/report/?ticker=SNAP

Micron Technology, Inc. shares closed down almost 8% on Thursday with colossal trading volume at around 97 million shares. Shares slipped after the stock Morgan Stanley downgraded the stock from "overweight" to "equal-weight." Morgan Stanley analyst Joseph Moore said, "After being bullish on memory for the last two years, we are moving to a neutral stance. DRAM remains strong but looks priced in as MU is very close to our PT." He also said, "We would rather err on the side of caution in an environment where we can see storm clouds on the horizon." The firm has reiterated a $65 price target on the stock. Even with the decline yesterday, shares of Micron are up above 25% in last one month. In the last twelve months, Micron shares have risen 87%.

Access RDI's Micron Technology, Inc.Research Report at:
https://www.rdinvesting.com/report/?ticker=MU

Snap Inc. shares closed up 3.83% on almost 63 million shares traded yesterday. The company behind Snapchat saw its shares go higher after getting a bullish report from Citron Research. The firm initiated coverage on Snap with a price target of $17. According to Citron, Snap has attracted too much short interest, with nearly 110 million shares held short. The firm thinks that the "shorts have overstayed their welcome." According to Citron's estimates, Snap short interest is 21% of float and that the stock could be at a discount compared to bigger peers. The stock's short interest is actually 30% of float. Citron also said, "Staying short a stock where negative catalysts and news flow are baked in is a recipe for disaster that is often coupled with an inability to look past the headlines." Shares are down 45% in the last twelve months.

Access RDI's Snap Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=SNAP

Our Actionable Research on Micron Technology, Inc. (NASDAQ: MU) and Snap Inc. (NYSE: SNAP) can be downloaded free of charge at Research Driven Investing.

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SOURCE: RDInvesting.com