UBS analyst Timothy Arcuri raised the firm’s price target on Micron to $120 from $95 and keeps a Buy rating on the shares. UBS sees results biased to the high-end of guidance, with revenue and gross margin likely guided $6B-6.1B and high teens at the midpoint, a number that will likely be viewed as “okay” but not “great,” the analyst tells investors in a research note. The firm expects pricing to continue moving higher in 2H.
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