Micron price target raised to $225 from $140 at Rosenblatt

Rosenblatt raised the firm’s price target on Micron to $225 from $140 and keeps a Buy rating on the shares, stating that the company “crushed its February quarter print and May quarter outlook.” The firm, which notes that accelerator compute will not scale without DRAM bit content and performance, meaning the category is “desperately price inelastic,” argues that the “memory cycle we are about to witness will be the biggest in history, driven by an AI cycle that is revolutionizing compute in a secular fashion.”