Micron Technology Inc. (NASDAQ: MU) was downgraded to Neutral from Buy at Bank of America Merrill Lynch, although the firm's price target remains $20.50 (versus a $19.99 close). The story has played out and the firm sees limited upside now that shares have more than doubled. Simon Woo and Jennifer Kim said that most of the positives are well priced in and that there are no new upside catalysts at a time when softening NAND pricing brings downside risk.