Goldman Sachs Maintains Sell on Micron Technology

Goldman Sachs is out with its report today on Micron Technology MU, maintaining Sell. In its report, Goldman Sachs writes, "We maintain our Sell rating. We expect Micron to generate losses in 2H11 driven by weak DRAM ASPs, and our CY2012E EPS is more than 50% below the Street. We would need to see reductions in DRAM supply and more reasonable Street estimates to be more positive on the stock." Goldman Sachs maintains a $5.50 PT on MU. Shares of MU closed Tuesday at $5.66, up 7.60% from Monday's close.