Needham raised the firm’s price target on Micron (MU) to $150 from $120 and keeps a Buy rating on the shares. The company posted a solid beat and a strong raise driven by continued strength in Data Center along with a recovery in other end markets, the analyst tells investors in a research note. Micron’s gross margin expansion is attributed to product mix shift towards DRAM from NAND and an improving pricing environment, while the overall demand environment is also improving across other end markets, Needham added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MU:
- Micron price target raised to $135 from $98 at Morgan Stanley
- Micron Stock Just Got a Massive Forecast Boost; Here’s Why $145 Might Still Be Conservative
- Micron price target raised to $200 from $172 at Rosenblatt
- Micron price target raised to $160 from $150 at Susquehanna
- Micron price target raised to $140 from $84 at BofA