Micron price target raised to $135 from $115 at KeyBanc

KeyBanc analyst John Vinh raised the firm’s price target on Micron to $135 from $115 and keeps an Overweight rating on the shares. The firm notes Micron reported Q2 results and provided Q3 guidance, both above expectations, as pricing for both DRAM and NAND increased robustly. Notably, Micron cited an improvement in traditional server demand, while AI server strength remained robust. KeyBanc is encouraged by these results and is raising estimates.