Micron price target raised to $103 from $95 at Wedbush

Wedbush raised the firm’s price target on Micron to $103 from $95 and keeps an Outperform rating on the shares ahead of quarterly results. With DRAM and NAND prices having benefited from strong secondary market movement as well as favorable Q1 contract pricing, Wedbush believes Micron likely outperformed its initial guidance, with retail, spot, and forward contract almost certainly having all exceeded the inputs baked into its forecast. Net, the firm sees no reason to shift its optimistic view on Micron.