Micron price target raised to $200 from $172 at Rosenblatt

Rosenblatt raised the firm’s price target on Micron (MU) to $200 from $172 and keeps a Buy rating on the shares, telling investors that the combination of AI applications driving DRAM demand and Micron’s leading power efficiency drove revenue, gross margin, operating margins and profits “well above Street expectations.” The firm sees this cycle driving Micron’s income model to “all-time highs” with DRAM wafer capacity expansion over 18 months away and it continues recommending shares, the analyst added.