Stifel raised the firm’s price target on Micron to $76 from $72 and keeps a Hold rating on the shares ahead of the company reporting fiscal Q1 earnings on Wednesday, December 20. The company’s recent pre-announcement “confirmed what was evident,” namely that pricing is a big tailwind to revenue, and the firm looks for Micron to “remain directionally upbeat on pricing” and guide fiscal Q2 revenue into the mid-$5B range. Improved commentary around datacenter consumer demand, supply discipline, and traction in HBM “would be constructive” to the firm’s stock outlook, the analyst added in an earnings preview note.
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