Micron price target raised to $140 from $125 at Raymond James

Raymond James raised the firm’s price target on Micron to $140 from $125 and reiterates an Outperform rating on the shares. The company’s Q4 results and Q1 outlook were both better than Raymond James’ recently reduced estimates and management’s fiscal 2025 commentary should help allay recent concerns about the memory cycle rolling over, the analyst tells investors in a research note. The firm says Micron’s margins are benefiting from a combination of pricing, nigh bandwidth memory mix, and improving yields, tailwinds that should continue through the year. It believes a higher peak multiple is justified for the shares.