Wedbush raised the firm’s price target on Micron (MU) to $220 from $200 and keeps an Outperform rating on the shares. The firm notes Q4 results handily exceeded the company’s updated forecast, with sales at the high end of the revised range, while margins upsided even the augmented forecast resulting in significantly better than expected EPS. While Wedbush believes the buy side was looking for around $12.5B in sales, the firm doesn’t think anyone was expecting Micron to forecast over 50% gross margin.
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