Micron price target raised to $135 from $120 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on Micron to $135 from $120 and keeps an Overweight rating on the shares. While expectations were high, Micron certainly delivered, with February quarter results nicely ahead of consensus and May quarter guidance well above consensus as well, the analyst tells investors in a research note. Management guided for supply to remain below demand for both DRAM and NAND throughout FY24, enabling FY25 to be a new record revenue year for Micron, the firm says.