Stifel raised the firm’s price target on Micron (MU) to $195 from $173 and keeps a Buy rating on the shares after fiscal Q4 results exceeded guidance that the company raised last month. The newly disclosed size, significance and margin structure of Micron’s cloud and hyperscale memory segment was “the main story” and the firm believes these disclosures will help investors better appreciate the structural shift in Micron’s revenue composition, says the analyst, who increased estimates following last night’s report.
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