Micron price target raised to $130 from $124 at Mizuho

Mizuho analyst Vijay Rakesh raised the firm’s price target on Micron (MU) to $130 from $124 and keeps a Buy rating on the shares after the firm updated its model to bring it in line with company guidance and the Nvidia (NVDA) AI and HBM ramp outlook. Driven by accelerated AI adoption, the firm sees the High Bandwidth Memory, or HBM, market growing at a three-year compound annual growth rate of about 65% from 2023 to 2026 to reach $17.5B by calendar year 2026, the analyst tells investors.