Micron price target raised to $160 from $150 at Susquehanna

Susquehanna analyst Mehdi Hosseini raised the firm’s price target on Micron (MU) to $160 from $150 and keeps a Positive rating on the shares. The firm raised their estimates following stronger than expected Q3 results benefiting from a rebound in DRAM consumer demand (SP, PC) while DRAM DC demand remained strong. Additionally, HBM3e 12-Hi yields are ramping faster than expectations, contributing positively to margins. However, the higher mix of consumer products led to a LSD sequential decline in DRAM ASPs.