Micron price target raised to $120 from $100 at BofA

BofA analyst Vivek Arya raised the firm’s price target on Micron to $120 from $100 and keeps a Buy rating on the shares. Q2 beat by 9%, Q3 was raised by 10%, and major end markets are returning to a normalized demand environment, the analyst tells investors in a post-earnings note. The firm increased its calendar year 2024 and 2025 sales estimates by 10% and 5%, respectively, and its EPS forecasts by 81% and 21% following the report.