Micron price target raised to $150 from $95 at Citi

Citi analyst Christopher Danely raised the firm’s price target on Micron Technology (MU) to $150 from $95 and keeps a Buy rating on the shares ahead of the fiscal Q2 report next Wednesday. The analyst expects the company to post upside to consensus estimate and increase guidance for Q3 given strong DRAM pricing and shipments of higher-priced and higher-margin high bandwidth memory, which is shipping with Nvidia (NVDA) artificial intelligence systems. Citi increased estimates and believes Micron shares should get a premium given the company’s increasing AI exposure. Micron remains the analyst’s top pick.